Updated about 6 years ago on . Most recent reply
Steps of doing a shortsale
I have been making lots of cold calls to pre-foreclosure, and I found one that the mortgage is higher than what the house is worth so need to do short sale. I have never done one before, can anybody share the steps with me? What is the procedure? Are there forms I need to prepare?
Thank you.
Most Popular Reply
Wayne Brooks
#1 Foreclosures Contributor
#1 Foreclosures Contributor
- Real Estate Professional
- West Palm Beach, FL
- 13,510
- Votes |
- 23,418
- Posts
Wayne Brooks#1 Foreclosures Contributor
#1 Foreclosures Contributor
- Real Estate Professional
- West Palm Beach, FL
The steps are:
1) Find an experienced short sale real estate agent, as one will be required by the lender anyway.
2) Do what they say....there are about a dozen different things to consider...you will not be doing this yourself.
If you don't have a legit POF or preapproval, or if you're trying to wholesale, don't waste your time.