SS on New Construction property

[Shane Schaetzel]

Hi all,

Question is in regards to a property that is a potential short sale opportunity.

Property is roughly 85% finished. Original lender went belly up and is now serviced by another lender who has discontinued funding on the construction loan. Lender is willing to sell short on property.

My question is on potential exit strategies. I was thinking I would have to attract a cash buyer as my only out. Has anyone else completed this type of transaction? Any thoughts or suggestions on the process?

Thanks again,

Shane