Posts

Short Sale Success Story

InActive_Account profile photo
  • Wednesday, February 25, 2004 @ 07:29 PM EST
  • 2 Comments

Anyone have an example of a Short Sale success story that they would like to share? I would be great to see an example. I learn better with numbers.

Thanks cool grin

Comments(2)

  • no photo
    giveyoucash25th February, 2004

    I can share one with you. I recently had did a short sale on a property that had a mortgage of $129,900. The homeowner was 2 months behind. It needed about $4,000 in repairs. I got the bank to accept a discounted payoff of $105,000. Their net was around $99,000. The property was appraised at $133,000. I sold it to another investor through a double closing for $122,000. Gross profit was right around $17,000. Everyone was happy, especially the new owner because she got a property that had $11,000 in equity. I know that this story is missing a lot of the detail but I would need at least 5 more pages to give you the entire story.

  • no photo
    InActive_Account25th February, 2004

    Giveyoucash,

    Good story. Thanks. Just trying to get the nuts-n-bolts of SS.

    THANKS

Add Comment

Login To Comment