Shortsale with no cash!!

[Jose Martinez]

Hello yall, im working on a short sale deal but with a potential of a good value. However id like to use either private funding or hardmoney. This will be my first deal and i have questions. Most Important is i wanna sign the contract so that i can secure the property, is this typical on a shortsale or is it expected to buy immediately via financing or cash? Because its a shortsale... When i sign the contract can i out down the standard 1% down? Im not opposed to put more to secure the deal? Will i still be able to sign a contract on it while i get my cash to buy it? Or do i need to begin the financing immediately? I wouldnt be opposed to wholesaling it, can this be done? Im working with a realtor who has the deal from the bank. Who or what do i need to secure? Title co? Broker? Attorney? My own realtor? I need to help with the paperwork legalese, should i consult with my own realtor to cya? I guess imma learn as this goes but a handy a-z would be nice? How invested is the realtor that has the home? I feel like asking questions such as... Are there any liens Back taxes Hoa fees What else should i ask?

[Chris Seveney]

Typically the bank will want proof of funds or a financing approval. You will have a hard time if even possible of wholesaling a short sale.

If you don't have the money and put money down when making the offer you are at risk of losing it.