Posts Tagged ‘Investors’

Outsourcing Your Short Sale Deals for Preforeclosure Investors

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If you’ve been investing in real estate, and more specifically preforeclosures, then there’s no skepticism that you’ve come across a fleeting sale deal.  A fleeting sale is when the lender agrees to accept less than what is owed against the property in exchange for full acceptance of payment of the loan. In other words, if the loan balance is $400,000 but the bank accepts $300,000 as full payoff, then a fleeting sale has occurred.

Greed of Short Sale Investors

The first question is usually not about the investors’ greed, but about how they are screwing the home buyer.  Real estate agents will defend that they have a right to get their client the best deal doable.  I like that.  That’s what they should do.  The issue then becomes what is the best deal they can get on their own, not what is the best deal an investor, who either is, or has, experienced negotiators and integral knowledge of how the fleeting sale process works.  So even though an investor provides the acceptable fleeting sale discount in a timely fashion (as most buyers are either relocating or moving out of a previous place of residency and likely have just a couple months of a window to find a new place to live), the buyer should be entitled to this discount.