Offline1, will the lender likely to accept short sale w/ assignment clause on it?
2, who pays for title search? (lender, or me) or negotible?
3, what if, the property has more than 2 loans on it, would it be very hard to deL W/ ?
HOW TO DO IT? PLEASE HELP.
4,can i do double closings on short sale?
__________________
answers to your questions below:
1. A lender will not accept a sale with an assignment clause on the A to B transaction (seller to investor) of a short sale
2. title search/insurance is paid for by the buyer.
3. you must negotiate a short payoff on all liens on the title. Just remember that the first mortgage has priority though.
4. You can most certainly do double closings on short sale deals. just remember that the number one point of double closings is that you are not to use the funds from the B to C (investor to end buyer) to fund your A to B transaction. These must me totally seperate. Double closings are harder to do these days because some think that they are illegal but they are not if done properly. You must find title companies who deal in double closings and they are hard to come by these days
Good luck
Nick
Nick Walters
Walters Property Investment Group, LLC