OK, I found a way by accident to get more short sale opportunites then I could probably handle. So I’m looking into short sales. My goal is to put the short sale together, present it to the lender with a purchase contract. If I find an end buyer though, where and how would I get paid? I hear you can do a double closing or assign, then others say no those can’t be done.
Am I just not getting it or what?
A double closing will work, but it sometimes depend on the area. I think that’s why some say it won’t and some say it does. The other obvious way is to get a financial partner to fund it and then resell in another closing.
There are lots of ways to skin this cat. A lot is determined how the deal is started and what methods you use to tie up the initial transaction.
Simultaneous closings are possible but I highly recommend fully funding the front end of the closing. “Dry” closings are getting more difficult to do but there are still title companies that will do them.
Doing short sales is more complicated than some make it out to be. It requires a lot of negotiating and people skills as well as patience and perseverance.
Feel free to contact me outside of the forum if you need some advice.