Thursday, September 24, 2009

What is Short Sale Transactional Funding?

Short Sale Transactional Funding is the hottest deal in Short Sales right now!

We can open the door of opportunity for many people, who otherwise could not participate, to buy and sell properties at huge profits and fund your deals right when you need it most.
Are you one of them?

We provide funding for the first A to B transaction, where you are the buyer, making the successful transaction possible.

Here is Inside Scoop about Back to Back Closings with Short Sales Transactional Funding:

It is very important to send the correct Purchase Agreement and HUD1 Settlement Statement to the Mitigator. On the Purchase Agreement going to the Short Sale Mortgage, your Buyer is your Trust, Trustee, Corporation, etc.

On paragraph H, the HUD1 Settlement Statement states “Preliminary HUD Settlement”. This is what you send to the Mitigator for approval of the short sale. You should find an investor friendly Title Company who will assist you in preparing the HUD1 Settlement Statement. If the Title Company will not, then contact our office and we can refer to a HUD1 Settlement Statement software.

Once you know your Buyer is ready to close, you can close with your Seller the same day. There are several ways that you can close with your Seller. You could meet them at your office, home, a specific location and have them sign all necessary closing documents as stated on the Approval Letter or you could have the Seller come into the Title Company and close the same day as your Buyer.
We would recommend the Title Company.

After the title company gets your closing funds from the 2nd closing (the one from the Trust to the end buyer) you should receive a Wire Confirmation from the title company. This is proof that the Title Company has wired the funds to the bank for your 1st closing (the short sale).

It is your responsibility to make sure the HUD1 from your 1st closing (short sale where your company originally purchased the property), the Wire Confirmation & any Signed Payoff letters have been received by the bank, either through email or fax.
IT IS YOUR JOB TO MAKE SURE THE BANK HAS RECEIVED ALL THE DOCUMENTS NEEDED TO HAVE A COMPLETED TRANSACTION IF/WHEN YOU PERSONALLY ARE NEGOTIATING YOUR FILES.

You should follow up with the lender, usually a closer/mitigator, to make sure they have received the documents.
The HUD should show a cash transaction, no mortgage because you funded the closing with cash.
This is a must for success.
It is not up to your title company to handle this part of the transaction because they did not work with the bank, you did. The Title Company only paid off a debt that you negotiated and provided a payoff for.

No credit or income requirements to qualify for our Short Sale Transactional Funding.
Team Up with an experienced Expert short sale investor who has
closed thousands of Short Sales deals!
Go to http://funds4yourshortsale.com/

To Your Awesome Success,

Hunter

407-772-2274

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