Posted by William Flood on September 27, 2007 at 08:57:43:
I didn’t realize that was you - somehow I missed the name, and when you responded I checked the email and realized who it was!! I’m glad the info was useful…I could have done that just as easily by phone!
what is shortsale? - Posted by frantz
Posted by frantz on September 17, 2007 at 10:28:06:
I’ve been reading the post here GOD bless you all, but being new at this, can
anyone help me understand the difference between a short sale and wholesale?
Re: what is shortsale? - Posted by Larry
Posted by Larry on October 05, 2007 at 16:55:27:
The seller is “short” of money and needs to make a quick sale. If you can work on a “short” timeline you may get a good deal.
Larry
Re: what is shortsale? - Posted by William Flood
Posted by William Flood on September 20, 2007 at 12:26:09:
A short sale is buying a property that is pending foreclosure, but being able to buy it at a price below what is owed on it. A bank will often do that because the discounted price is still less than they’d “eat” if they had to fully foreclose.
A wholesale deal is when an investor picks up a property at an exceedingly good price and resells the property…still at a good enough price for another investor can still make money. Hence, the second investor is buying at a wholesale price from the first one.
Feel free to contact me if you have any other questions.
William Flood
Short Sales - Posted by Jeanne
Posted by Jeanne on September 18, 2007 at 12:54:00:
Hi Frantz,
We have over 300 free how-to articles on this site and over 300 success stories submitted by our visitors. Make sure you check them out.
Here is a good explanation of real estate short sales:
http://www.creonline.com/articles/art-190.html
We have an entire page dedicated to “wholesaling” or “flipping houses” here:
http://www.creonline.com/flipping-real-estate.html
Jeanne Ekhaml
Creative Real Estate Online
Re: what is shortsale? - Posted by JOHN FLOOD
Posted by JOHN FLOOD on September 26, 2007 at 19:54:23:
HELPFUL INFORMATION - THANKS!