Jason Dodge offers the following royalty-free article for you to publish online or in print. Feel free to use this article in your newsletter, website, ezine, blog, or forum. ----------- PUBLICATION GUIDELINES - You have permission to publish this article for free providing the "About the Author" box is included in its entirety. - Do not post/reprint this article in any site or publication that contains hate, violence, porn, warez, or supports illegal activity. - Do not use this article in violation of the US CAN-SPAM Act. If sent by email, this article must be delivered to opt-in subscribers only. - If you publish this article in a format that supports linking, please ensure that all URLs and email addresses are active links. - Please send a copy of the publication, or an email indicating the URL to [email protected] - Article Marketer (www.ArticleMarketer.com) has distributed this article on behalf of the author. Article Marketer does not own this article, please respect the author's copyright and publication guidelines. If you do not agree to these terms, please do not use this article. ----------- Article Title: All You Want To Know About Short Sale Investing Author: Jason Dodge Category: Investing, Real Estate, Wealth Building Word Count: 552 Keywords: Real Estate, real estate investment, Short sale investing, property investing Author's Email Address: [email protected] Article Source: http://www.articlemarketer.com ------------------ ARTICLE START ------------------
There cannot be any better deal in real estate than a Short sale. This strategy of buying property isn't known to many. Only real estate players and agents have been actively involved in short sale investing for a long time, but things are slowing changing and independent investors and home buyers are also getting to know about this lucrative investment option. Short sale can be carried out on properties that are in the pre foreclosure stage. In short sale property, the third party buyer can buy the property at a price much lesser than the outstanding loan amount. Here is how it works; first you need to approach the house owner as a third party buyer showing interest in buying his/her property. Convincing the owner will not be a difficult task since the owner would be in a vulnerable position because his/her property is on the verge of a foreclosure. Nobody certainly would prefer a foreclosure or auction of an owned property. Once the house owner gives his consent, you need to take a written approval from him/her and then approach the bank or the financial institution. You need to speak to the concerned department expressing willingness to buy the property and crack a lucrative deal with the bank. In most cases the bank willingly agrees to short sale the property even if it incurs huge loses, as the process of foreclosing is expensive. Filling number of forms, paying fees and auctioning will cost dearly to the bank and is a time consuming process. Cracking a good deal is the most important aspect of a Short sale. The bank is already incurring losses and hence giving you more discounts on the property, might not be their agenda. Here probably your convincing skills need to work overtime. Remember two things, first, you are eager to buy the property and second, the bank is desperate to close the file and not interested in the foreclosure process of the property. So you see have an upper hand because huge number of properties are available in pre foreclosure stage. You may find very few banks who actually don't give discounts on the property cost, while most of them reduce the cost of property by 20% to 40% of its value. One of the things to be remembered while selecting a short sale property is that you need to preferably select a residential property, as there might be some repair or renovation required. The other thing is bank is willing to give away such properties with little or no negotiation. A good research from the buyer will be required before selecting the property. Your share of contribution should be ready before you approach the Bank, as it will strengthen your position while cracking the deal. One of the most important aspects in the entire process is to procure the consent letter from the homeowner or a better alternative would be a property deed that details the understanding between the house owner and third party buyer. Many buyers ignore this and later face problems when the house owner retracts his/her decision. I am sure with all this information you can never go wrong with your short sale investment. So what are you waiting for, start finding properties that are on the verge of foreclosure and reap the benefits Jason Dodge has been investing in real estate since the early 90's. He specializes in getting money for investing and recommend the free training at http://www.InvestSteps.com ------------------ ARTICLE END ------------------ [Non-text portions of this message have been removed]
