Short Sale Criteria
Byron T Watts www.ByronWatts.com
PO Box 969 Byron, MN 55920
507-319-5788 – cell 248-598-0004 – fax
I currently am looking for Short Sale deals to work on. I have a team in place to handle over 100 deals at a time. I will adjust the process as needed to handle more. My team and I have been specializing in short sales for more than ten years. I buy houses in any location. I prefer commercial properties, luxury homes and houses that are above median price for the area. I will consider working on any overleveraged property. I’m not buying and holding at this time, so properties that we can market and resell make sense. Bank of America is currently the most difficult bank to work with.
I’ve been receiving tons of emails asking me to explain how my process works.
If you have an overleveraged property in mind and the seller is headed toward foreclosure I can often help. My team will write an agreement with the seller to purchase the property. We use our own negotiators to talk with the bank so you don’t have to spend your valuable time on hold with the bank. You can focus on what you do best; finding and getting more houses SOLD! We work with you or your Realtor to list the property and take it to closing. Our agreement with the property owner specifically gives us permission to negotiate with the bank and the right to market the property so an end buyer can be found. We fully disclose everything to the bank and our legal team makes sure we do everything right.
You might have another kind of deal, perhaps one that doesn’t require a short sale. If you have a discounted property and need to find a buyer call me directly at 507-319-5788. It’s the best way to reach me. Let’s review the scenario together, and put a plan together to take the deal to the closing table!
The end buyer CANNOT use FHA financing for most types of deals because there is a 3 month SEASONING requirement that will kill the deal at the closing table. This is something that we need to AVOID. The end buyer will have to use conventional financing or cash. If they are getting financing, the bank they use must NOT require seasoning. We need to verify this before closing on every deal. This is VERY IMPORTANT.
We have a Title Company that will close in all fifty States. They are familiar with our process!!
We can fund Short Sales, REO’s, foreclosures, multi-family and some commercial properties. We do NOT buy and hold property at this time. The end buyer needs to be approved and ready to be contracted on a discounted property before we will fund and close a deal.
When we have reviewed the deal we will let you know if this is a deal we can help you with. If the deal makes sense and needs Proof of Funds, we will have a Proof of Funds Letter emailed to you within 48 hours to get the process started (We submit documents for Short Sale deals directly to the lenders and include the needed Proof of Funds letter).
NEVER give up on deals too quickly. Getting some deals to close takes time and patience. Once we have put a system in place, we can repeat the process. We fully expect to make a lot of money together!
Check out some cool stuff at my blog www.ByronWatts.com/blog and website www.ByronWatts.com. Also check out www.ByronLeads.com.
