Which Properties Should You Short Sale?

Posted on: Mon, 12/22/2008 - 23:59

Build_assets's picture

DG Superstar

Posts: 608

Joined: 2008-11-01

Points: 1976

Offline

Which Properties Should You Short Sale?

Here is a list of situations that make Short Sales MUCH more likely to work:

1. Needs Repairs

2. Has very low comps

3. Loan balance more than 90% of the market value

4. 1st Mortgage Loan Amount More than $375,000

5. Property value higher than $500K

6. Loan is 2nd , 3rd or Higher Mortgage

__________________

"If you cannot do great things, do small things in a great way.”
Napoleon Hill quote

by Build_assets
Login to post comments

Posted on: Thu, 01/15/2009 - 20:18 #1

Official Coach

Posts: 195

Joined: 2008-04-23

Points: 634

Offline

Which Properties to Short Sell

Hi Jason, I agree with 1,2,3 and 6 in your list. What about those of us in areas where typical properties values are well below the $375/$500k threshold you mention?

Bill

__________________

If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125

Login to post comments

Posted on: Thu, 01/15/2009 - 20:19 #2

DG Superstar / Inner Circle

Posts: 763

Joined: 2008-04-10

Points: 2319

Offline

Still works

The more factors the better.. but you dont need all of them to make it happen.

Login to post comments

DISCLAIMER: Our DG site is here to provide real estate education, training and social networking without the promise/claims of earnings or return on investment. We don't offer tax, accounting, financial or legal advice. Before doing any real estate transaction, you should consult your own accounting, legal and tax advisors to evaluate the risks, consequences and suitability of that transaction. This site accepts and contains posts from our students, readers and the general public that we do not modify but also do not verify. There are no guarantees implied except where specifically stated.