How can I whoesale a deal if it is a short sale with the bank? Will the bank allow me to put ‘and/or assigns’ on the contract?
Denise
most banks are not going to allow and or assigns in a short sale deal about the only way you could do it would be to buy it in a llc like 123mainLLC and then have your buyer lined up and sell him the LLC
Denise,
If you are doing the short sale, find a private investor to finance the closing for you and take care of him. At the same time before the short sale closes, find an end buyer to close right after you close or find the end buyer right away and have him finace your closing then his.
I had a property that a bank owned that allowed me to assign it. It is case by case.
Thanks for the help. I will go the route of the private investor.
Denise