Skip Tracer?
I was watching a video of part of a Short Sale seminar where the instructor stated that you needed to get your pre-foreclosure list enhanced with the help of a Skip Tracer.
What exactly is this and do the experienced guys that post here really use this and feel that it is necessary and worth the cost.
Thanks
Check the archives for an essay, Selling a Short Sale to the Seller. It may help
everything on that list is truth with the possible exception the requirement a property must be listed with a real estate agent. Criteria can vary from lender to lender, loan type to loan type.
[ Edited by TheShortSalePro on Date 01/16/2008 ]
Great tip on Form 1126! Do you only submit the 1st 2 pages or all 3?
All is good. If you want to buy for .50 or .60 on the dollar. If you are agresive then palce yourself as a lien holder on the property thru a trust first for a considerable amount. Then submit an offer for .30 on the dollar and see what happens. You can thank me later.
Cheers!
mywayorthehighway,
Can you explain in details how you would do it?
Quote: "If you are aggressive then place yourself as a lien holder on the property thru a trust first for a considerable amount. Then submit an offer for .30 on the dollar and see what happens."
Thanks in advance
Short Sales are easy... The presentation is easier... Sure a couple years ago you needed to be an expert but heck as long as you have money and are breathing then the lenders are going to seriously look at your offer...
I created a shortsale utility to do all of hte paperwork... Its free if anyone wants it....
Where can I find it for free?
Thanks Loon but I think you misread my question. There is no equity, they owe $480k on the second and the FMV is only about $400k.
Thanks
Quote:
On 2008-02-06 17:31, MichaelQuarles wrote:
Short Sales are easy... The presentation is easier... Sure a couple years ago you needed to be an expert but heck as long as you have money and are breathing then the lenders are going to seriously look at your offer...
I created a shortsale utility to do all of hte paperwork... Its free if anyone wants it....
How could I get a copy of the utility?
Just go in there and ask her what exactly she wants help with and let her know that you will be able to purchase the property but all negotiations have to be done with the lender directly.
If you are performing a short sale, the property does not have to be listed. If you feel like paying a realtor 6% commission and loose profit on it, then by all means go right ahead. I wouldnt do it. Waste of time and makes it more of a headache.
How do you plan on purchasing the property and doing a simultaneous close?
Daniel
By "aggressive" this poster means willing to commit a crime.
Quote:
On 2008-02-05 20:12, mywayorthehighway wrote:
All is good. If you want to buy for .50 or .60 on the dollar. If you are agresive then palce yourself as a lien holder on the property thru a trust first for a considerable amount. Then submit an offer for .30 on the dollar and see what happens. You can thank me later.
Cheers!
Hello all,
does anyone have a BPO they can send me? I am curious on how it looks like. =D