All Cash @ Close?

Simple question here: When you do a short sale, are you required to pay in cash, or does the bank you are dealing with offer some kind of financing? I've found a property where they're willing to sign off on a short-sale, but if you need lots of cash then I'm out because that's not what I have. Any thoughts?

Comments(1)

  • TheShortSalePro3rd May, 2004

    Don't confuse a short sale with purchasing an REO at a discount.

    In a short sale, generally you'll have to bring your own financing to the closing table. In the case of an REO.... they may be willing to take a mortgage...
    [addsig]

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