My intention is to do short sale assignments in L.A. County, however I’m not sure how to get started, being I don’t have investors to assign to.
Who can help?
This plan may not work. Rarely do lenders let the short-sale buyers/negotiators do assignments. Most of the time, they specifically state that the contract cannot be assigned. If you do get a lender to let you assign, I want to know which lender because I’m gonna start pursuing short-sales with that lender. :biggrin
Which state are you in, because I haven’t heard that it was that difficult in Calif.
I live in Utah, but all the lender signoff letters I’ve come across, they have specifically stated a specific buyer and that if that buyer doesn’t close, the entire transaction is void. My most recent short-sale involved a lender from Colorado, so I don’t think its a “law” that it can’t be transfered. I think its requirements that lenders set from their side. Basically, anything can be written into a contract as long as it doesn’t violate a current law.
Dean