How to Obtain Money for Short Sales
Short sales often provide buyers with the chance to negotiate the purchase of a home. Time is typically of the essence during a lender's acceptance of your short sale offer and the period allotted for the closing of escrow -- so you will need to obtain financing rather quickly. You should apply for a mortgage loan before contacting a real estate agent, to avoid the loss of short sale opportunities.
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Instructions
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Speak with the existing lender who holds the financing for the short sale property. Inquire about opportunities that may help you obtain the money you need for the short sale purchase. Obtain and submit items requested from the lender to consider your application for short sale funding.
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Get a mortgage broker to help you obtain financing for short sale acquisitions. Apply for mortgage loans that your broker recommends for the purchase of short sales.
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Seek short sale financing from friends who might have money for private mortgage loans. Provide an outline that details your strategy for repaying the loan.
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