Short Sale & RE License
Hi.
Besides the regular challenges of short sale, what kind of additional challenges an investor with real estate license might face when she tries to do short sale?
What should she do to stay away from troubles?
It is better not to have a license if you are going to do short sale? Will the license get in the way?
Thanks in advance.
Depends on how you are doing the short sales .
IF you are finding sellers using postcards and then doing a short sale so you can buy or flip it I think the licence could get in the way. (thats why I chose not to get my licence after passing the realtor exam) If you are a realtro and have the property listed with a list of buyers that would buy at a reduced rate, the licence is great because the bank will pay your brokers commission and you will never own the property. If you are licenced and want to do short sales Loni Parnelli (?) has a great book - she does soley as a realtor - not do it as an investor though.
1) are you trying to negotiate the short sell for the buyer and the seller and you just get your normal commission?
2) are you trying to negotiate a short sell so that you end up with the house?
3) some other scenario?
Brenda
I would like to know the answer to that as well. I am in the process of obtaining my Real Estate License. I also want to do short sales as an investor, to buy and hold and to sale off retail.
Do you think that would be a conflict of interest?