how to make money on A-C transactions?

Foreclosures, Short Sales, Tax Foreclosures
1

i have a short sale in which i may have to back out of since the end buyer is FHA. is there any way i can make some money on the transaction? i’ve done a lot of work (found the homeowner, obtained the package, negotiated with the bank for a payoff etc.) i don’t mind stepping out of it so that the homeowner doesnt get foreclosed on and the end buyer can purchase the home (i dont want to buy and hold for 3+ months). i’m curious if there’s anyway i can make “some” money on this if i do have to step aside.

anyone?

2

What you can try doing is recording your contract or affidavit at the county
clerks office. You can then have it listed on the HUD as a lien payoff of some
sort having seller and buyer close out the transaction. Discuss the possibility
with your title company. I’ve never had to do this on a short sale, but this
simple technique works well with normal transactions, so it wouldn’t hurt to
try since your options seem to be limited at the moment.

HTH

3

Jeff…Great Idea…that would have to be a charge on the buyers side of the HUD

What about getting a referal fee from your Realtor? It will not add up to much, but something is better than nothing.

4

Contact the bank of the previous owner of this property and pay the balanced amount after negotiating a discount deal. As an alternative, instead of paying all the payments in one go, invest it in other options. Pay in the installments from the earned profit. :beer

5

thank you for your response…however i thnk this one went over my head. would you elaborate a little, i’m having trouble following this alternative.

ryan