Comments on: Is A Short Sale A Good Buyer Opportunity? http://thesunshinebroker.com/2008/05/17/is-a-short-sale-a-good-buyer-opportunity/ The Sunshine Broker | The Desert Ridge Real Estate Blog and Home Search Mon, 29 Jun 2009 19:14:21 -0700 http://wordpress.org/?v=2.8.4 hourly 1 By: Karl http://thesunshinebroker.com/2008/05/17/is-a-short-sale-a-good-buyer-opportunity/comment-page-1/#comment-3 Karl Sat, 21 Jun 2008 16:49:25 +0000 http://thesunshinebroker.com/2008/05/17/is-a-short-sale-a-good-buyer-opportunity/#comment-3 Kim, Great insight on short selling. I wish I had some cash to take advantage of one. I especially like the idea that I can keep looking if the bank is dragging it's feet. Thanks! Nice blog by the way. Kim,

Great insight on short selling. I wish I had some cash to take advantage of one. I especially like the idea that I can keep looking if the bank is dragging it’s feet. Thanks! Nice blog by the way.

]]> By: The Sunshine Broker http://thesunshinebroker.com/2008/05/17/is-a-short-sale-a-good-buyer-opportunity/comment-page-1/#comment-2 The Sunshine Broker Fri, 13 Jun 2008 16:49:25 +0000 http://thesunshinebroker.com/2008/05/17/is-a-short-sale-a-good-buyer-opportunity/#comment-2 Dawn, This is a technique that works well when there is some or very little equity, but it will not work well when the property is over leveraged by $50,000 or more which is what we are finding so frequently. Also, if the seller is behind by several payments, the buyer would have to bring enough of a down to "cure" the mortgage. Kim Dawn,

This is a technique that works well when there is some or very little equity, but it will not work well when the property is over leveraged by $50,000 or more which is what we are finding so frequently. Also, if the seller is behind by several payments, the buyer would have to bring enough of a down to “cure” the mortgage. Kim

]]> By: Dawn Rickabaugh - Pasadena Note Queen http://thesunshinebroker.com/2008/05/17/is-a-short-sale-a-good-buyer-opportunity/comment-page-1/#comment-1 Dawn Rickabaugh - Pasadena Note Queen Thu, 12 Jun 2008 22:40:56 +0000 http://thesunshinebroker.com/2008/05/17/is-a-short-sale-a-good-buyer-opportunity/#comment-1 Hi Kim, I've personally had a lot of frustration when it comes to getting a short sale to close. I've probably only closed about 20-25% of the deals I've worked on. Are you having better luck over there? There's also another strategy being used especially when a seller has a huge aversion to the credit ding of a short sale. Provided the sellers aren't too far behind on payments, the home can be put in a special kind of trust in which both the seller and the new buyer are beneficiaries. The "buyer" just puts a little money down, takes over the payments and lives in the property, and can get the tax benefits of ownership, so they can pay more than market rent (to cover the mortgage payment). I'm still learning more about this technique, but it seems like a strategy that will work in some situations. Hi Kim,
I’ve personally had a lot of frustration when it comes to getting a short sale to close. I’ve probably only closed about 20-25% of the deals I’ve worked on. Are you having better luck over there?
There’s also another strategy being used especially when a seller has a huge aversion to the credit ding of a short sale. Provided the sellers aren’t too far behind on payments, the home can be put in a special kind of trust in which both the seller and the new buyer are beneficiaries. The “buyer” just puts a little money down, takes over the payments and lives in the property, and can get the tax benefits of ownership, so they can pay more than market rent (to cover the mortgage payment).
I’m still learning more about this technique, but it seems like a strategy that will work in some situations.

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