Short Sales?

How long do lenders typically give you to cash them out? Do most just pay cash, or find a buyer or investor to pick it up?

Your question in essence is about 2 major parts of SS:

  1. How long does the bank give you to close? (There is no cut & dry answer to that)

  2. What is a good exit strategy?

I recommend getting some more education (courses, books, teleseminars) on SS to answer the questions.

I was just curious to some real world examples. I no nothing is cut n dry. I do have several books. I guess I should have phrased it differently, :biggrin I haven’t done any yet so I was just looking for some thoughts from people who have.

Ok. Here’s a real life example. One of my exit strategies is a double-close. I negotiate a cheap enough price on the SS, then I sell it to another investor via a double close. The investor’s $ pays the lender, and I get the left overs via a check from the Title Company.

There you go, anyone else?

On one of the deals the first gave us a 45 days to close. They postponed on the day of the auction. We were doing a double close.