I am working with an investor Mr B. who succesfully executed a short sale on Mr A’s property. He has a payoff for $285,000 and the property appraises for $530,000. Mr B has a Buyer Mr C who is willing to purchase said property for $500,000 and Mr B. is looking to have the $500,000 satisfy the short sale payoff…
How can the deal be structured to satisfy the bank accepting the short sale and the bank providing financing for Mr. C.
what is your relationship to the deal? how do you relate to Investor b?
Just have your buyer buy the house directly. The bank handling the short sale is not going to approve a large pay-out to investor B, and you will have trouble finding a lender that will let you assign the contract. So either investor B needs to buy the house with hard money and flip it to the new buyer or he needs to lower the sales price and take an assignment fee from the buyer.