A short sale that I am working on involves another investor who had a property go into preforeclosure. Because he’s an investor, and presumably is in a stronger financial situation, will this hurt my chances of convincing the bank to release the property to me?
Confused about this question. Who has a contract on the property going into foreclosure?
I haven’t signed a contract with him yet to acquire his property, but I am planning on doing so.
His property is going into foreclosure and he is an investor who just happens to have run into some hard times and so he can’t make the payments on his investment property.
I don’t think the fact that he’s an investor would matter. In order to pursue you need to get under contract at the price that you will pay and then try and negotiate with the bank to give it to you at that price.