With foreclosures exploding across America, many people are
dealing with the fact that they bought a house they just
couldn’t afford to own. Few things are worse than losing your
home. Its a nightmare. The banks are also stressing. They have
to remove these houses off their books ASAP. If they don’t,
they pay for the foreclosure process, opening costs and
attorney’s fees and everything associated with the foreclosure.
Foreclosing is not fun for banks or homeowners.
Enter the short sale real estate investor. Short sales arent
easy as any investor will tell you. But today I want to show
you a little tip on how to cash in on short sales that would
usually be passed over by the banks. And believe me this
happens a lot. Its a little know concept known as the “Deed
in Lieu.” What few investors realize is that many banks will
actually take the deed for a house as a settlement for
what the borrower owes on that house. Banks will frequently
accept the deed so they won’t have to pay for the foreclosure
process and attorney’s fees and opening costs etc. (You can
usually make $1000-3500 per deal using the “Deed in Lieu”!)
So what does that mean for you as an investor? It means that
you can make money on EVERY short sale deal that comes across
your desk when you understand how this process works. (Even
the deals that other investors would pass up as being a waste
of their time and energy.) You will know something they dont.
Its a total win/win scenario because if its a great deal, you
make ton of money on the short sale. If its not, then you can
most likely get at least $1000-$3500 per deal. Few people know
of this fact of short sale investing and those that educate
themselves will have many more deals paying off for them.
For more real estate investing tips, go here
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