I am working on a short sale. The bank is ready but wants a contract, pre-qual letter and hud 1 from my buyer. I haven’t told the loss mitgator that I am a investor or realtor. She may presume the latter. How do I show my wholesale fee on the hud 1 with out raising a red flag. Do I send a contract for my buyer from my seller to the end buyer?
Any suggestions will be appreciated.
David :help
Do a double close.
You buy the house, ten minutes later you sell the house.
The money from the sale goes to the purchase, you keep the change.
:rolleyes
… and my mother wonders why I still wet the bed.
What I left out was that I can’t get a prequal letter for myself and I want to use the end buyer’s prequal. He know’s that this is a short sale and also a pre foreclosure. The bank is willing to postpone the foreclosure when I send all the docs. It’s obvious that this is my first shortsale with a wholesale exit. I have only done 1 other shortsale.
Thanks for your reply
Get a prequal letter from a HML, they’re a dime a dozen.
just type it in as a project fee?
Thanks for the replies. I will try that.