Short Sales/Simultaneous close.
A short sale allows you the investor to immediately re-sell your home to another investor for a smaller but much quicker profit. This will also be know as a simultaneous closing. Once your offer is accepted by the home seller a third party buyer is found as the purchaser from you.
There are three components you need to arrange in order to do a short sale.- First you need to find an urgent seller, this may be someone who has an unexpected financial obligation or perhaps isn't working for some reason. The urgent seller has fallen behind on their bills or hasn't made a few mortgage payments and has defaulted.
- The second component is for you the buyer, to get a reasonable offer accepted. Try to remember the seller is in a bad situation and if not helped out may likely loose the home without receiving any financial compensation.
- And the final component is a list of investors you will go to to sell the home at a small profit to yourself. This buy and sell is instantaneous allowing you to avoid the usual closing costs associated with real estate purchases.
