alright so everyone keeps talking about short sales and preparing short sale packages for the banks and everything and im very confused by all this because i was taught to simply find a real estate preforeclosure and negotiate with the home owner some terms then i call one of my investors and assign the contract to them for a fee.
so where does all this short sale package stuff come into play? any help would be appreciated.
Short sales are popular when the home is not worth the mortgage balance or is not a good deal at that price. A lot of companies are willing to deal to sell the house and take less than the balance. The package will have the sellers financial statement and a hardship letter and various other things needed like listed with a Realtor for so long etc. I have actually seen some where the Realtor already had every thing worked out in advance including a lower asking price. Some are still not bargains and some companies are hard to deal with and take forever. It is not easy but can be rewarding. I too prefer your way.