get foreclosure deeded to you

Posted in Creative Real Estate Discussions
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  • Tom Bujnowski
    January 4, 2011 at 9:56 pm
    Tom Bujnowski

    What does anyone think of this strategy. Owner in foreclosure. I have them deed the property to me “subject to”. Then I work to short sale the house with the bank. In the meantime I look for a buyer to buy the house. I pocket the difference between what my new buyer pays me and the discounted short sale price from the bank.

    Is anyone doing this?

    Hank Baltar
    January 4, 2011 at 11:47 pm
    Hank Baltar

    Check your state law or better check with a competent RE attorney in your area.

    What you describe is now taboo in FL as I understand our law.

    Anonymous
    January 5, 2011 at 7:09 pm
    Anonymous

    It depends on where you live… like Hank said, in some states that strategy is a $50,000 FINE and possible jail time… don’t believe everything the so called “gurus” say.

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