SHORT SALE

Foreclosures, Short Sales, Tax Foreclosures
1

I Have a question. Lets say I have a lender accept my SHORT SALE package. Can I do a double close?

2

Yes, and no. You can do a double close if you find an attorney willing perform one for you. However, double closings are not as easy as they once were so I would also consider other options. Do you have other exit strategies in mind. Are you just interested in flipping or would you consider buy and hold?

3

WELL I WANT TO FLIP FIRST IN THE BEGINNING TO GENERATE SOME CASH RESERVES. FURTHER ALONG IN MY CAREER THEN I WILL BUY AND HOLD. WHAT DO YOU THINK? IF THE ATTORNEY DOES THE DOUBLE CLOSE RIGHT, THE LENDER WONT KNOW WHERE THE MONEY CAME FROM AN OUTSIDE SOURCE CORRECT?

4

Do you already have a buyer are you sharing equity this is a tough topic every state is different when it comes to double closing!

5

first let me say im sorry if im stepping on anyones toes by putting a link in from another site but i thought this maybe be a way to get around the no assigning or double closening problem you speak of let me know if this works for short sales too as i am intrested

http://www.flippinghomes.com/articles/article_non_assign.php

thanks

6

I wanted to flip and sale at first also. Then I read that you can buy a house under market value, flip it, then refinance the house at market value, and keep the cash for your next deal.