Reverse Short Sale
Exciting news! If you are working on as short sale that is (or know somebody who is) headed into Foreclosure in the next 10 days. WE CAN HELP!
Check out our COMMISSION SAVER PROGRAM!!!
Nuts and Bolts:
1. You bring us qualified Short Sales ($350K+) going into Foreclosure in the next 2 weeks AND the contracted Buyer (with a conventional loan).
2. We make an agreement with the contracted buyer to purchase the said property at auction and turn around to re-sell it directly to them for the original price agreed upon.
3. We Pay The Agents their agreed upon commissions. (See Variable Commission Agreement) Just when you thought you’d lost everything after months of running around and bank negotiations!
Qualifying leads: (See Understanding the Loan Process)
Call us at least 10 business days out from the scheduled foreclosure auction and we can work with you and the Buyer’s Agent to get all the necessary paperwork signed. This paperwork will include a standard Realtor purchase and sale agreement, an AS-IS addendum, commission agreements between both agents and ourselves, and a Affidavit of Understanding that basically explains all the important clauses of our program.
The major benefit to you and your broker is that after all of your hard work, you will still earn your commission and your buyers will get the home they so desperately wanted. It’s a WIN /WIN for everyone involved.
After we do our research we will then use our money to go down to the auction and purchase the property and change the locks. From that point forward it is a standard escrow period done through our title company.
Steps that need to be completed before we will fund:
1. Inspections must be completed and AS-IS purchase must be approved.
2. Appraisals must be completed and we will want to speak with the buyers’ lender.
3. All paperwork needs to be pre-signed and in our possession.
We realize some of these steps may cost the buyers money, but your buyers should be o.k. with getting inspections and appraisals if they really want to purchase the property. Don’t wait until the last minute to contact all the parties involved to discuss our program, some of these steps will take time.
PLEASE PRINT OUT THIS EMAIL AND STICK IT IN YOUR SHORT SALE FILE SO YOU CAN
CALL US WHEN YOU NEED US.
Read this Q&A on Reverse Short Sales to find the answers to all of your questions regarding Reverse Short Sales.
We look forward to answering any other questions and keeping your deals alive!
Save your Commissions, the Buyer’s agent commissions, and make your buyer very happy.
Please contact us by phone to answer any questions regarding any of our Real Estate Programs at 888-505-8817