My name is Bryan Smith and I am looing at getting into Short Sales but I hav a few questions, may I pick al of your brains?
1. what all is in a "Short Sale Packett"?
2. after the bank accepts your offer is it like a normal contract where you have 30 days to close (I would like time to find a buyer so I could close simultaniously) or how does that work and do you sign a contract with the bank?
3. if you do sign a contract to close in "X" days is there a way to put an escape clause in so that if you need t walk you can?
4. if you do have 30 das to close and say you fid a buyer for the property can you close ssimultaniously with the new buyer and the bank? and how would you do that? would you close with the new buyer first eventhough you dont have control of the propery (or do you have control since you have a contract with the ban), and then you would close with the bank? or would you need to close with the bank first to get control of the property (which means you would have to have the cash money to buy the property in hand), and then close with your buyer?
it's a lot I know but I cant find any research material with these exact details in them!
Thanks SO much,