Protecting your position
How do you protect your position when working with a listing agent; right now i working with a listing who has a owner who's in bankruptcy and she order the short package; i do i protect my position if my intend is to flip/wholesale the property after i do the short sale... any suggestions or comment will be helpful.
Great Success................. Franklin
Your position? If you have entered into a Sales Contract with the homeowner in bankruptcy (hopefully, your real estate salesperson has had the listing agreement preapproved with the bankruptcy trustee... or it is voidable) and you do complete the short sale purchase, the real estate salesperson will no longer have a role since the transaction will be complete. You may choose to enlist her help to resell the property, but are under no obligation to do so.
If you are NOT under contract to purchase the property, then you have no position.