OfflineHow should I structure an offer to purchase a bank owned property such as a forclosure if I don't plan on holding the property?
I'm thinking banks won't be receptive to an investor placing an offer based on reselling it to another end buyer.
__________________
I've tried and failed, tried and failed, and again I try. Why don't I give up? I'm hard headed and I Will Succeed or Die Trying!
It could be very difficult to get the bank to accept an offer. The only thing I have read another topic about land trusts that describes how to assign REO's.
http://www.deangraziosi.com/real-estate-forums/buying-foreclosures-reos-...
Success and Nothing Less!
I have bought the books "PROFIT FROM REAT ESTATE RIGHT NOW" alone with "BE A REAL ESTATE MILLIONAIRE" with the SPECIAL REPORT Dean Graziosi's "STUDENT SECRETS" I also have "YOUR TOWN YOUR REAL ESTATE PROFITS!" but I don't have the SPECIAL REPORT Dean Graziosi's "FIND FUNDING RIGHT NOW" How could I obtain this book? any body.
Thank you
will smith
Another option is to make an offer with your proff of funds letter. Because you will be making an all cash offer. Submitt your contract minus contingencies. You will get a inspection contingency from the bank anyway for about 7-10 days. Your ofer is accepted, now you call up your rehabbers and let them kow you have a sweet deal for sale. You give them all the details. They are willing to buy now you call your title company, submit all contracts from your buyer and bank. Arrange to have a double closing set up. This is how you would be able to wholesale a bank owned property.You buyer comes and closes pays for the house and you and then you close with the seller and they get paid. You go to the bank and cash your check.
I got my mind made up.....
www.Kingjussinvestors.com
www.jussinvestors.com (buyers site)