OfflineI'm new and have been making offers planning to assign or use transactional funding through Coastal-Funding when I cannot assign (Double Close). My agent received the following questions via email from the listing agent on one of the properties I offered on. and emailed the questions to me:
Can you ask your buyer the following?
1. Is it her intention to short sale flip the property, or in other words, do a back-to-back transaction with another buyer for a profit?
2. And if so, does she intend to market the property to potential buyers if accepted?
I'm thinking my answer should be "Yes. Disclose, disclose, disclose." What do you think?
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When you don't have more, you have to create more. - Cre8mour
When doing a short sale, sometimes the seller will want to know your intention for the property. When she is asking if you plan on making a profit, the answer would be yes. A Finder Fee, not a commission. (you are not acting as a realtor). The second questions sound like she is wanting to know if you have an end buyer in mind. Which of course, you should have a list of potential buyers together before you try this strategy. The listing agent is wanting to know if this is going to be a done deal or are you wasting her time if the contact is accepted.
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Thank you for responding. I want to make sure I have a professional, educated answer, rather than just a simple 'yes'. Thanks for letting me know what the other agent may be thinking. That really helps a lot!
When you don't have more, you have to create more. - Cre8mour