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All of their tomorrow’s so our today’s we can spend free.
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Deb
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If you haven’t heard yet, Countrywide is including in their acceptance letter after a short sale has been verbally agreed to that if you are to resell the property – you have to hold it for 30 days BEFORE selling or notify Countrywide.
If your profit is huge, Countrywide probably won’t like it or allow the 2nd close.
However, I have had students who did tell the bank they were doing a 2nd closing right away and the bank had no trouble with it. Remember, it’s all about disclosure, disclosure, disclosure. And apparently they aren’t reading the Option Contract or they would know we were immediately reselling. I’m guessing they just want to know “how much” we’re reselling it for.
Well, you know there are ways around this. One is to use two separate title companys. The first title company does the closing with the short sale bank-Countrywide. The second title company does the closing where you sell to your end buyer. Countrywide is out of the picture, they don’t have to be told anything. The title company didn’t violate anything and you got your proft.
They apparently think we aren’t solution makers! And that’s the definition of a real estate investor: finding solutions to real estate problems!
For more tips and techniques and solutions to short sales log on to
Deb McMillan
The Short Sale Queen and Coach
Are your Guru packages missing something real important that you need to close your short sales?
It’s the end of the process, you’ve got your pre foreclosure short sale accepted. And you’ve always planned on selling to an investor or an owner occupant, not keeping the house yourself.
And now, buyers are scarce. You have a great house. Brick – 4 bedrooms, 2 baths - and no buyers.
You look through your pre foreclosure and foreclosure packages from the guru’s you’ve spent hundreds and thousands of dollars on. There is no discussion on how to find buyers of your short sales. How can this important piece of information be missed?
Isn’t that what real estate investing is all about? Reselling at some point to make your profit?
Now Discover 30+ ways to sell
Then tomorrow night Tuesday, December 9 at 9:00 pm EST you need to be on the first of a 3 part series Experts Talk – How to Find Buyers in Today’s Tough Buyer’s Market.
You’ll learn over 30 ways to find buyers. If one won’t work you’ve got plenty more to choose from!
Finding Buyers in Today’s Tough Market
Sign up here at this link. You’ll get the phone number and password to get on the call. You’ll hear how to get money out of your short sales before the end of the year! YOU CAN’T MISS THIS CALL!
Deb McMillan
The Short Sale Queen
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