When a bank excepts your short sale they want proof of funds and want to be paid in short order. How are some of you finding additional moneys to be able to buy these short sales. Many times we find good deals but we have are money tied up in something else. Any Ideas?
I think you could find an investor to purchase the property and get it under contract subject to you being able to provide clean title. You should also disclose that you don’t represent their interests. You would then do a simultaneous close on both contracts and be issued a check for the profit.
From my limited understanding that’s one way to do it…
I have never understood the point of doing a simultaneous double close unless you stand to make a huge chunk that you don’t want showing up on the HUD? A simpler way to do it is to put the property in a trust with yourself as the trustee. Then selling it to the end buyer and disclosing your “fee” as a line item as a consulting fee. This seems easier to me.