Invest in Real Estate Now!
Almost every day now I get a call from a “cash investor” that wants for me to write an offer on a short sale and then get the seller to agree to give them permission to/give them the right to market it at a higher price.
I know some investors do this successfully and know the legalities of it and the ins and outs. I have looked into it thoroughly with attorneys and for what we found it is legal if done correctly but it is not easy. There are so many trainings and webinars on the concept and there are so many people that want to do it but don’t have a clue as to really how.
This blog post is not to tell you how to do this. This post is to say that if you are thinking of purchasing a short sale to re-sell at a higher price, and to resell it before you take possession, look into it thoroughly and find an agent that knows what they are doing with this. A good real estate agent will have an attorney that works with these that is well versed in the process.
My experience as a listing agent with short sales is that the banks are not taking the low ball offers on the properties that are listed for sale. They are then offering the sellers a Deed in Lieu of Foreclosure instead and I am along with other real estate agents losing time and money we have invested in trying to sell the property. The buyer and buyers real estate agent are frustrated for waiting so long for an answer to find out they cannot purchase the property through the short sale process. Everything is changing in the real estate world on a daily basis, this is what I am experiencing.
If you want to put an offer on a short sale property, I would suggest talking to a real estate agent for thier advise on what a reasonable offer would be. If you don’t have a real estate agent to work with, contact me and I would be happy to help you 😉
Posted By: Julie Anne – The Julie Anne Real Estate Team at Keller Williams Success Realty
CDPE Certified for Short Sales and REO
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