BiggerPockets

for those of you doing short sales, how many sellers start out being very cooperative, then just up and quit you, and dont bother to complete the required paperwork? Lets say you have the following after initial contact with the seller.
- power of attny, notarized
- warranty deed, notarized
- signed sales contract

Now, supposing the sellers just give up, move out and refuse to complete the rest of the required paper work. I would think my best option would to just simply move on to the next deal and not bother pursuing the deal any longer if the sellers no longer wish to cooperate. If I still want the property, I could jsut wait until the bank gets it, but I dont think I could use transactional funding the same way, or at all, or could I. Just a thought that got me to wondering about how to keep my options open.

I 100% agree with James and take it one step further. I do not even view the property until I have the paperwork. No sense in me driving out there to look at property and not be guarenteed to control the property.

Great decision Randal. It will save lots of wondering. Let them come to you when they are ready.

Remember: We are dealing with procrastinators!

Originally posted by Anna Estes

Just curious- where or how do you find buyers for these short sale properties to have a back to back closing?

You will have to find a title company comfortable doing these.

Randal,

Like most everyone else said: let your seller know what you need from them and if they are really serious they will get it to you within a reasonable time period.

If they never get back in touch with you, don't even bother contacting them. That has been my experience so far.