You just never know

There is something that I always say, "there are some many ways to make money in real estate". This has proven it self even more true than I could have imagined. I am now flipping shortsales, and boy is this ever complicated. There seem to be many different scenarios:

Pre approved short sales- I am working on one of these now, the bank approved the shortsale and now the owner is selling it to me. I could be wrong but it would seem to me that once the bank approves it, it is then up to the seller and their attorneys to work out the details of the sale.

Shortsales (unapproved) I have unknowingly placed bids on properties that were unapproved shorts sales. On these properties, the sellers attorney send my bid to the bank for their approval of both the shortsales price as well as an overall acceptance of my offer. It seems that when this is the case the bank is at that point in the middle of the deal and dictate the terms or the sale. Enabling me from assigning the property to another investor.

I am looking for ways to deal with these situations.

- leveling with the buyer and tell them exactly what is going on with the deal. I would get them to commit to the sale price that includes my profit. Once they commit I simply ask them to cut me a check of my profit and the other for the sale.

- Set up my end buyer, then use of transactional funding to buy the property and then once my deed is produced sell the property to the end buyer.

I am also looking for alternate ways to handle and flip shortsales, so it anyone has any ideas please let me know.

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