We’re finding some great short sale opportunities with properties coming out of bankruptcy. As you know, when a bankruptcy is dismissed (ex. the homeowner fails to make payments under bankruptcy agreement), the foreclosure picks up right where it left off. These are great opportunities because the bank is motivated and the homeowner has exhausted every option except a short sale.
We’ve got a fantastic source that identifies these properties and homeowners right when the bankruptcy is dismissed. The only problem is that these deals are so HOT we need to door knock them because the clock is really ticking. (Very time intensive)
If you haven’t focused on these post-bankruptcy deals in the past you may want to consider giving them a try.