Posted by Kristine-C on August 06, 2008 at 11:07:56:
Do you mean 70% OF value? as in 30% percent BELOW value? Or are
you really offering these houses at 70% discount? As you are seeing,
value means very little if there there aren’t any eligible buyers and/or
the loan products are limited.
Are you planning on closing on the short sales yourself, or somehow
assigning the deal to the end buyers? Short sales can be tricky unless
you can close on it yourself…the banks are watching these deals
pretty carefully where I am. You can’t change anything about the
contract. No assigns, etc.
If you can close on them yourself, you can offer your buyers seller
financing (by wrapping) or lease/options. You could also find a
mortgage broker to work who may already have marketing in place for
buyers.
In your area can you put signs and/or banners with your USP on the
property? That works in my area. Kristine