short sales

5 Replies

I want to move a short sale im trying to lock up a little faster then my Realtor can move. She won't be back in town till Wednesday from her easter vacation. I need to get my contractor in there to do a repair estimate so I can figure out what I want to offer on the house.

Can I call the bank and ask for the lock box code also if a valuation on the property was done?

No, the bank won't/can't tell you anything. They don't own it, and can't talk to you regarding anything dealing with the owner. The bank doesn't know the combo anyway, it's not even their agent.

The owners Realtor then? This would be my first flip outside of wholesaleing and I'm excited to get this going further then it is already.

Wait for your agent. They should know what questions to ask the other agent, and get more truthful answers, along with the knowledge to research themselves, things such as how many mtgs/liens, who the mortgagees are, past submittal issues, etc. Also realize you'll need a legitimate POF or preapproval, and won't be able to assign the contract, or do an immediate resale depending on who the lender/investor is.

Short sales almost always take a long time, just wait for your agent to return.

Yes short sales move slowly so you can probably afford to wait, but my 2 cents as an agent, is that if your agent is serving you well they should have someone available who can get you inside properties when they're out of town. Denver's market moves so fast I'd be out of business if I didn't have a showing assistant to cover when I'm not available.

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

Lock We hate spam just as much as you

Create Lasting Wealth Through Real Estate

Join the millions of people achieving financial freedom through the power of real estate investing

Start here