Real Estate Investing – Your Short Sale Package, Investing In Real Estate

by Roland on October 25, 2009

By Brian Nelso

 Real Estate Investing – Investing in short sales is a excellent way to profit in real estate and the short sale package is pretty easy to develop. After you have profitably negotiated the acquisition price with the seller , you may choose to contact the lender to get a good feel for what their short sale expectations are and how they would like to see the package. Because the lender will have the final say in the deal, you should contact them very early on.

As you get started down the road, find out from the property owner who currently holds the note on the mortgage. For the reason that of the way mortgage notes have been handled over the last few years, finding the actual note holder may be more of a challenge. Regardless, in order for the deal to go through, you will need to be in contact with the owner of the mortgage.

Get in touch with the owner of the note and find out who their loss alleviation people are. Discover what will be necessary to craft a short sale package that will meet the banks needs.

After discussing the short sale process with the loss mitigation officer, start building your short sale package. As this is a short sale, you will need to give sufficient proof that the home is not worth what is currently owed on the mortgage. To help build your substantiation, bring in appraisers and contractors to give an estimate to the cost of rehabbing the property. Also bring in an appraiser to give you a true market value estimation of the property. This, as well as letters of hardship from the property owner need to go into the short sale package

Once the package is completed, submit it to the lender for review. Depending on a number of factors, the lender may accept or reject your offer. However, if you have done your due diligence, and the home is in pre foreclosure, the chances of the bank accepting your short sale offer are relatively high.

Stop by freetrainer.com to get more insight and data on investing in real estate, short selling, buying foreclosed homes and download your own copy of our real estate software



real estate investment club

Share and Enjoy:
  • Digg
  • del.icio.us
  • Facebook
  • NewsVine
  • Reddit
  • StumbleUpon
  • Google Bookmarks
  • Yahoo! Buzz
  • Twitter
  • Technorati
  • Live
  • LinkedIn
  • MySpace
  • MySpace
Blog Traffic Exchange Related Websites
  • blog traffic exchangeReal Estate Forecast 2009 As a member of the school's Real Estate Club, I got a pretty interesting update on the real estate forecast for 2009. This is just the summary. The whole article was signficantly bigger. A lot of it is obvious, but it's still a good comprehensive list. Serious dislocation has resulted......
  • blog traffic exchangeHousing Still Sucks! According to Chris Gaffney of Everbank.com, who's Japanese REIT CD I recommend, said todayThe markets seem to be waking up to the fact that the housing market is no where near the bottom. Borrowers are being squeezed by the treasury markets recent sell off which has increased 30-year mortgage rates......
  • blog traffic exchangeHow to maximize your real estate investments Maximizing your real estate investments aren't as daunting of a task as you may think. You may have heard that creating wealth in real estate is the best way to go for enormous gains and returns on investments. However many would be investors have not figured out the simplicity in......
  • searching “buy real estateTop 50 Reasons To Invest In Real Estate Right Now! Someone said to me the other day, "since we are in a recession, give me one good reason why I should invest in real estate?"   It caught me off guard , I couldn't even answer the question because it was just too overwhelming to me .  I couldn't see how someone could be......
  • houseThe Mortgage Crisis and Investments in Real Estate According to regional and state real estate analysts, the factors which previously fueled the housing boom of the last few years are easy to explain. The factors that fueled this boom in the real instate industry ranged significantly, including: - Interest rates that were historically low. - Flight-Risk Safety Investments......

Previous post: Real Estate Investing – Does Cap Rate or Gross Rent Multiplier Best Evaluate Property Value?

Next post: Real Estate Investing – In Search of Real Estate for Sale