Another Blog Creation of Jules

As you know, it’s recently been discovered that a lot of people bought very nice houses they simply couldn’t afford. Now many of these people are facing foreclosure. For those that have experienced foreclosure, it can be a harrowing ordeal. The banks have their problems too. They have to get these big expensive homes off their books. otherwise they pay for the foreclosure process and attorney’s fees and opening costs etc. Foreclosing is something the banks would prefer NOT to do.

But I want to share with you a cool little secret on how to cash in on the short sale deals that would normally be passed
over by the banks. (If you know short sales, then you know that this is typical.) its a little-known concept called the “Deed in Lieu.”

What most people don’t realize is that
many banks will actually accept a deed in cancellation of the borrower’s mortgage as a settlement for what the borrower owes. So most banks will actually accept the deed so they won’t have to put money up for the foreclosure process and attorney’s fees and opening costs etc. (they typically pay anywhere from $1000 – $3500 for the deed).

So what does that mean for you? It means that you can cash in on EVERY single short sale deal that comes your way when you
understand how the Deed in Lieu process is structured. (Even the deals that most investors would pass up as being a dud.)

Its great because if its a fantastic deal you make BIG dough on the short sale. If its not, then you can easily get a cool $1000-$3500 per deal using this little known wholesale real estate marketing trick.

For more great marketing tips for your wholesale real estate business, visit Wholesale Real Estate, then visit Michael Kimble’s blog for videos, atWholesale Real Estate blog.

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Filed under: Real Estate