Is anyone using options in their shortsale process?

Foreclosures, Short Sales, Tax Foreclosures
1

If you are, please can you give a detailed explanation about the process and how it is working for you.

Please no theory, I want only those who have successfully performed a shortsale with an option to post details about the process.

Those of us who are yet to do one can post questions so that we can get an informative discussion going.

thanks

Your Solutions Provider

2

I have yet to complete a transaction using an option contract, I was using land trust. Currently, the three SS I have, I am using an option contract. My lawyer explained it to me pretty simple, basically an option gives you the right not obligation to buy. So far the lenders don’t have a problem negotiating a SS with me. As far as their concerned I showed them proof of funds, so their assuming Im going to excercise the option. I will keep you posted.

3

yes.My business partner