Lakewood, California
The Mortgage Meltdown has created entrepreneurs on a whole different level who have created short sale funding companies that will provide the cash for you to purchase a short sale from the bank with none of your own cash required, but after your short sale is approved by the lender, and you have the funds in place to purchase from the lender, these transitional lenders, require that you already have a new buyer in place to immediately purchase the short sale property from you. If you can’t find a buyer who can qualify for a new loan, then what? Will I be stuck buying the property? A BIG FAT NO YOU WON’T!!!!
You now have to find a buyer who can qualify for a loan, and who has a down payment to purchase the short sale from you, or risk losing your short sale approval from the bank.
With guidelines very stringent and the present credit crunch we are all experiencing this, and for us (Realtors/Investors) have become more difficult to attain a qualified buyer. Therefore, it is ever more important that you expand your demographics by providing creative solutions for your potential buyers by structuring a form of seller financing that will allow your new potential buyer to purchase the short sale home from you with some Owner Financing.
Just think, if you could offer your short sale home at a tremendous discounted price, and do it with Owner Financing, how many more potential buyers you would reach over and above the competition. You would be the answer to every new home buyer’s dream!
Well, there is a strategy that can be used to accomplish just that. It involves you (Investor) as the seller providing a seller concession, or credit to the buyer at closing which would be equal to the amount of the required down payment or you the seller could offer a seller carried back note.
However, I recommend that you contact Bernie Germani, because he understands the unique requirements that a real estate investor has; Bernie Germani has an extensive understanding and background in creative finance, and how to structure them. and also a real estate investor who has adapted to our market changing.
Realtors, We need to think outside of the box in today’s real estate market, and I hope you’ll take advantage of this information The opportunities are abundant, and waiting for you. Seize them, and take control of your financial destiny.
I’m here to help you sell more properties, please contact me for more information on how I’m working with Realtors nationwide closing their high end short sales.Remember, finding a new buyer that will qualify for a new loan is the key to completing a successful short sale flip transaction. Without these final elements in place, your short sale approval, along with your transitional short sale funding mean nothing, if you can’t complete your short sale transaction, and access the profit you have built into the deal for yourself.
I’m a licensed California Realtor and I’m teaching Realtors nationwide how to get your high end short sales sold. I’m here to help out in any way I can, please contact me for more information on how I’m working with Realtors nationwide to get their high end short sales sold.
Regards,
Bernie Germani
310-918-9102 Direct
bg@luxuryshortsalegroup.com
{ 2 comments… read them below or add one }
So, just to make sure I’m understanding…Banks are no longer allowed to loan money to people that can’t afford to make the payments, but individuals are? How is this going to help reduce the rate of foreclosures? Are we going to have to bail these individuals out when they can’t balance their books because their borrowers can’t pay the mortgage? This is insane.
To Ares Vista:
Thank you for your concern. These transactions we have been able to structure since we are the buyers of high end short sales,(as I set up a company for this) there is a LOT of wiggle room on what we can do since we are doing all the negotiations. We are taking back notes, and offering seller financing on a portion of the mortgage. We were able to get this last home owner in to our property with just closing cost, and we took back a 150,000 note.
This market is about thinking outside of the box, and doing the traditional real estate business in a new manner. I’m not going to do the traditional way of real estate any longer, because I don’t want to become extinct like so many other agents are becoming.
Please let me know if your a Realtor, and how I can help you get your short sales sold.
Regards,
Bernie Germani