Hi I had a newbie question reg. shortsales- Can the buyer of the shortsale home use a mortgage to purchase or do they have to come in with cash only? I have a homeowner in foreclosure whose home I am going to start negotiating a price on with the bank. I want to wholesale it to another investor but I am confused as to whether or not this new investor can apply for a mortgage and purchase the prop. using this ( I am planning on double closing) PLEASE HELP! Thanks for your time!!
The same options exist for a buyer in a short sale as with any other transaction.
Thank you, thats what I thought. There are so many little technical aspects to short sales- I want to be sure I understand as much as possible! Thanks again, this is by far the best website I have come across!!! :beer