Are there any real Commercial Short Sale teachers?

[Brian Gatewood]

I have done two commercial deals and several single family deals. Have not done any Commercial Short Sales but I am curious about this market. Can someone please recommend a credible source of information.

[Scott Hubbard]

Although commercial short sales are similar to residential, there is a much larger emphasis on providing proof of financing.

1. Confidentiality Agreements.
2. Required non-refundable earnest money deposits.
3. A much larger emphasis on providing verifiable third -party support for your valuations.
4. Heavy emphasis also doing your due diligence upfront as there will not likely be an inspection period like in residential.
5. Your likely going to need a good Re attorney or at lest very good commerical agent with experience in underperforming commercial assets.

6. Be prepared to pay fee to the lender for appraisals, inspections, survey, and even upfront fees to the SS lender.

In my opinion, you need more capital, a better team, and a lot of patience in commercial RE. The person representing the bank is going to be much more skilled, less patient, and very adept as negotiation. Therefore, you will need to step up your game.