Money to Seller in a short sale?
Hello,
I am wondering, is there any way to structure a deal on a SFH where you the investor tie it up with a subject to contract, then try to contact the lender for a short sale, and are able to give the seller some of the equity that was already there before you came into the deal? IN other words, you are trying to increase the equity via the short sale, so that you can pay yourself, some to the seller, pay off the remaining loan balance and still have a 70% of as is value to assign to the end investor buyer?
I don't understand why the seller would cooperate with you the investor to get the short sale (provide the hardship letter etc.) and not get anything out of it?
Thanks, Mike