Trying To Do My First Short Sale
Hello,
I browsed the archives. Perhaps I may have missed older messages addressing my questions (if so please accept my apologies) but here are my questions.
1.I’m getting ready to do my first ever short sale on a property. My plan is to make a contract with the homeowner to purchase it, but to assign the contract to another party. The property is occupied by the present owner, who wants to sell ASAP due to impending foreclosure. This person lives about two hours away from me. How can I arrange for the property be shown to prospective buyers in a way that is safe and reasonably convenient for the homeowner? I don’t want just any random person dropping by that person’s door asking to be let in. At the time that I meet the homeowner to get the contract signed, should I ask the homeowner to list the property with a real estate agent so that they handle the showings?
2.I will post ads for this property once the property owner signs the contract of sale. I’m sure people will want to know basic info, such as selling price, area in the city, recent comps, lot size, amount of arrears, and whether taxes are current. I already know the seller has a lien for the first mortgage. The second one (per the seller) is current. I’m paying an attorney to run title anyway, and checked with the city to verify that real estate taxes are current. What other questions should I anticipate from potential buyers?
3. I prefer a cash buyer, as the person needs to get this home sold quickly. How do I make sure that people who respond to the ads have the cash on hand? Is it reasonable for me to ask them for bank statements? I don’t want to be too invasive, but I also don’t want to take the seller through a lot of hassle and have nothing to show for it.
Thanks 
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