1st SS, a little help please! - Posted by Eric

Posted by John on April 03, 2005 at 17:13:02:

Who there. Give a few more details here because it is sounding not good.
Did you sign a contract with a buyer prior to even submitting the SS offer?
How did you arive at the price?
Will the lender even consider a short sale?
What kind of loan does seller have and what are the numbers?
What kind of penalty is there if you can’t deliver?
You need to give some more details here because you are on dangerous ground here

1st SS, a little help please! - Posted by Eric

Posted by Eric on April 03, 2005 at 16:26:09:

I am about to tie up my fist SS. there is a little unique situation that i would like some advice on first.

i found my end buyer first and he agreed to purchase my SS subject property only if the adjacent property also owned by my pre-foreclosure home owner and her sibblings was included. the buyer is obtaining a bank loan that will encompass the purchase of both properties.

i was hoping to stay clear in regards to the second property purchase and sale, but im not sure how that will work, considering the SS purchase and my profit will also come form that one bank loan. any advise on this situation?