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Double Close a short sale

This topic contains 19 replies, has 0 voices, and was last updated by Avatar of anonymous anonymous 14 years, 7 months ago.

Viewing 6 posts - 16 through 21 (of 21 total)
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  • #20362
    Avatar of anonymous
    anonymous
    Member

    @Anonymous wrote:

    SoCalProps… Most of what I do is short sales and it has been REALLY good to me (particularly this year). Many of my transactions are simultaneous closings or “double escrows” if you will. Yes there are escrow and title companies that will do short sales simltaneous closings, it just is a matter of finding the right one.

    Usually check with the smaller escrow companies and I would tell them the following:

    I am looking to do a simultaneous closing.

    In other words, I want to buy it in my land trust and then I want to quickly sell it to my buyer.

    Do not expect me to bring the money in. I expect you to take my buyer???s funds, subtract out the money for the seller and cut me a check for the difference.

    This is what I used to ask when we were looking for a more efficient escrow/title.

    Do you operate in CA? If so, can you recomend any escrow companies that could help me acomplish this? You can reach me at angel@perezinvestments.net or (866) 689-9981. Thanks.

    #20363
    Avatar of taipan
    taipan
    Member

    Hey Scott,

    I really enjoyed the book and got a lot of good ideas out of it. I have to admit, I felt little ill when I read about “Lease with Option” story; knowing that, I could of been in a tremendous financial trouble. I have few friends who bought and sold by using the Lease with Option method and I don’t know if it makes sense to tell them of this potential problems or not…

    Has anyone thought of charging fee for converting Lease with Option to EHTrust for many uneducated investors. Just a thought… 8)

    #20364
    Avatar of homesavers
    NULL
    Member

    Angel, the agent cannot share his commissions with you if you are not licensed. This is a RESPA violation.

    #20365
    Avatar of dbhenderson
    dbhenderson
    Member

    What commission are you saying is shared when you convert a lease option to an NEHT? Also, you don’t need to charge a fee to make that conversion. Sell the “dream” of home ownership (remember, statistics show that only 14% of the people that do lease options/purchase ever end up owning the home), bump the equity, build in some positive cash flow, get at least 5% RB contribution so you get some profit up front and share in the appreciation (if there is any). With all those profit centers you don’t need to charge a fee or share any commissions.

    #20366
    Avatar of scott_l._moyes
    scott_l._moyes
    Participant

    @homesavers wrote:

    Angel, the agent cannot share his commissions with you if you are not licensed. This is a RESPA violation.

    Who is Sharing Commission? Where did you get that idea?

    #20367
    Avatar of bill_gatten
    bill_gatten
    Participant

    Like the fedller said:

    I ain’t gettin’ no share of no commissions…I always charge $4,995.00 for a loaf of my special Wheat Bread.

Viewing 6 posts - 16 through 21 (of 21 total)

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