How Do I Effectively Sell Home When REO Is Under Contract?
Originally I had the idea to buy the mortgage note on a property and then have it refinanced or sold. After bringing that up here it was advised that plan was not too sound for a novice like myself.
This is my situation:
I have the funds (transactional funding)
POF (upon request)
Some cash buyers.
My last problem that I need help with is how to market the home once I have it under contract? (of course with contingency such as inspection etc..). I plan on 30 days to close (no property yet, just a scenario). I want to close first then close with my cash buyer (double close) of course leaving room in the deal for them to make money.
If I can get a good answer to this then I can get started. Thanks a lot. Nothing gets done waiting on the sidelines so I need to step it up.
Sounds like you want to cater to your cash buyers. You need to bring them deals they want and verify they can close. If they balk, then you may be out any earnest money you used to get the property under contract.
I am collecting my cashbuyer list first. Asking cash buyers for my area excactly what it is they are looking for. Sometime with their answers alone you know if they are serious cash investors or not. Archive what they are looking for and bring them the deals once you sign them up.
Walk away from the deal if you do not have them lined up. If that happens think about why that transaction did not work and try again.
Matt
[ Edited by ashwin on Date 03/18/2010 ]
[ Edited by ashwin on Date 03/18/2010 ]
[ Edited by bargain76 on Date 03/18/2010 ]
[ Edited by ashwin on Date 03/18/2010 ][ Edited by ashwin on Date 03/18/2010 ]
Quote:
On 2010-03-17 14:59, mattatcrown wrote:
I am collecting my cashbuyer list first. Asking cash buyers for my area excactly what it is they are looking for. Sometime with their answers alone you know if they are serious cash investors or not. Archive what they are looking for and bring them the deals once you sign them up.
Walk away from the deal if you do not have them lined up. If that happens think about why that transaction did not work and try again.
Matt
It is necessary for us to understand everything about making transactions so that later it will not be that difficult for us making certain deals that are necessary and worth required. I have seen several people effectively working so that later they will not find any problem.