<= LARGER
Good Samaritans is a property investment company that specializes in Short Sales. First, we founded Good Samaritans, Inc., (aka GSI) as a non-profit to help families who are stuck in trouble. Rather than taking donations, we then founded Good Samaritans of America, Inc., (aka GSA) as a for-profit company to fund GSI.
Please use the Nomination form if you want to nominate a family for a grant. They can only receive one grant a year, but they don't have to be our clients. No guarantees of course. The GSI board decides who gets grants.
We buy homes that Realtors(r) have listed for short sales, and pay full commissions. We even negotiate the short sales. Then we add value in various ways and resell the homes, asking that same Realtor(r) to list the home again.
One more time, we pay full commissions, so the potential is 12% on one house, for two sales. It is usually 6-11% because other agents are involved. If you find the end buyer, you receive up to 12%
We close fully on the first transaction, call it A-B. We wire in our funds to close, and we close Fee Simple. After that is done, we close on the second transaction, call it B-C with a new buyer. We must do the short sale and we choose services.
These are quite ordinary transactions, using your ordinary forms, or if needed we can use our forms. The usual contingencies and periods apply. We choose the end-buyer, and require at least 10% down. If another buyer is putting down 20% with an inferior price, we might choose the lower price for the stronger buyer. A faster close is also important to us.
We ensure that each lender knows we will make a profit by buying low from the first lender, and selling at a higher price to the "C" buyer, who is probably funded by a new lender.
We are on title when we sell. We will have recorded, equitable title, with the seller's full cooperation. We do not go on the deed until we buy the home.
The seller must know exactly what we are doing, and agree. The new buyer must know exactly what we are doing. Everyone gets to know everything.
We buy at a distressed price, because the seller is distressed. We sell at a price that you tell us will sell the home fast. Typically, both closings occur the same day, in the proper order. We buy and close fully, and then we sell.
We pay a full 6% commission as sellers, so you can attract more cooperating real estate agents and their buyers.
If we find a buyer, we will still pay you 6%. If another agent finds a buyer, you get to split your commission.
Because we're your buyer, you also get 3-6% on the A-B sale, from the seller's bank
We are in the business of helping families. This means that if we can serve a family better by another means, such as with a loan mod, we will try to do so. While we must remain profitable to continue helping families, we put families first, every time. We are the
GOOD SAMARITANS of AMERICA, Inc.
