Use real estate options contract in Short Sale?

Foreclosures, Short Sales, Tax Foreclosures
1

I was wondering if it’s possible to use a real options contract in a short sale?

Here in NV, title companies do not do double escrow.

I was thinking of maybe using a real estate options contract to submit to the lender and from there it will say that I have a right to either buy or sell the house.

Is this possible?

2

I’m not clear how this will accomplish the SS. The property remains in the original owner’s name and is in default. The bank does not care if you have an option, they will continue to foreclose their position and you will have to step in and exercise your option to save it.

3

The reason why I would want to use a real estate options contract is because I don’t want to buy or do the repairs for this property and with the title companies here in Nevada, they are not willing to do a double escrow.

I want to be able to make some money off some short sale deals that I don’t want to take down myself but rather leave the burden to another investor and at the same time make a profit.

4

Do back to back closings. Have your end buyer in place to buy it from you and if necessary, use hard money to buy the property in a short sale.

5

Or…

and Green Queen’s going to have a fit when she sees me saying this,

:shocked :flush :shocked :rolleyes :shocked use a land trust. :shocked :rolleyes :shocked :flush :shocked

It’s a single close when you do it that way.

There’s plenty info on this site how to do it.

6

Who’s Green Queen? I had to ask that…

7

My land trust arch nemmes nemesi nemis enemy