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Short Sales - LoanUniverse Community

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Short Sales


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#1 Guest_Guest_Ed Fernandez_*

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Posted 19 September 2004 - 09:06 PM

Does any1 have any solid info on where I can can educated on short sales

#2 loanuniverse

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Posted 19 September 2004 - 10:11 PM

Short sales?

As in selling stock that you do not own by borrowing it from your broker?

Never done it myself, too much downside potential. But you can find information here:

http://www.sec.gov/answers/shortsale.htm

#3 Guest_Guest_Ed Fernandez_*

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Posted 20 September 2004 - 09:40 PM

No I meant Real Estate. As in pre-foreclosures.

#4 loanuniverse

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Posted 21 September 2004 - 08:03 AM

Well, I talked to my "special assets" friend and he told me that he agrees to such things as long as:

1- The numbers make sense, and the proceeds of the sale are not too far from what the bank's estimate of value of the property is.

2- The transaction is an arms length transaction.

3- The comparable properties are selling for around that much.

We talked and he told me that while the transactions are rare, he does get a few every year. {included in these sales are auction sales prior to foreclosure}.

#5 Guest_John Knowles_*

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Posted 01 October 2004 - 06:59 PM

I have been doing short sales for about 1 year. For the people who take advantage of this great investment strategy then the opportunities are countless. I don't know another more effective way to purchase property below market value. If you are interested in learning more about short sales then there is a great book called "Making Money with Short Sale" by D.C. Fowler. It can be found on www.shortsaledeals.com and I even think www.reidepot.com offers it as well. Hopefully, this helps.

J. Knowles





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