Here we are in another week of a wholesaler, this week has had many trying moments. I found out two new things about short sales I didnt know. 1) The deal I talked about last week with the lady that called me after a year. After calling the customer service line for US Bank they informed me that the only way they will do a short sale is if the owner agrees to pay the difference of what they owe on thier real estate and what the short sale price is. Now this was not the short sale department, so I will keep you posted on that one. This will be my first short sale with US Bank because on all the other ones we have closed on they do not seek judgements on the owners of their real estate. These banks can be very hard to work with, so if you are trying to do short sales be ready for alot of curve balls. If we do short sales my main goal is to get the owners out of the debt forever and no judgements. But you must realize that you can't save evryone with their real estate, just do the best you can and be honest with yourself and the home owner. Lesson 2 is that you have worked on a short sale for many months got approval and you have a buyer lined up. The short sale is through Bank of America and then you get your approval letter and in the small print it says you can do a double close. It says that you must hold the house for 30 days before you can sell it, that sucks I say. Because my transactional lender I use will not wait for 30 days for their money. There goes $14k down the drain, but after talking with some friends of mine down at my local REIA group I found out a trick of the trade. When I first started working with seller I had him sign a deed, bingo there it is. My friend down at REIA said he had one with Bank of America and he had a deed that was dated from a year ago, now pay attention closely. As long as you have a deed that is signed and notarized that house has transfered even though it has not been recorded. When the deed is recorded it makes the transaction public knowlege. So back to my story with deed in hand that was signed and notarized from last March, I can do the short sale. Make sure to get with attorney that fully understands short sales and has closed many of them. Because if I would have noit talked with my friend at REIA, I would have lost out on $14k. So we closed that deal on Wednesday and I walked out with a check for $13,898, this was my short sale from hell. I have been working on this short sale for over 14 months and have had 5 offers rejected, one accepted then my buyer lost his job. So this deal has been a roller coaster ,but as I always say never give up on a deal. Just when you think the deal is dead you find a way to make it work. So this week will go down as a great one, having a closing is always a great thing. I have just ordered my next shipment of bandit signs, I can't wait til they get here. I love putting out signs because I know that deals are coming. Bandit signs are very important to my investing career, so get yours ordered today and you phone will not stop ringing. See ya on the flip side!!!!