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Forums » Rehabbing and House Flipping » Will Bank Allow My Retail Buyer To Take My Place?

Will Bank Allow My Retail Buyer To Take My Place? Subscribe to Will Bank Allow My Retail Buyer To Take My Place?

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Tag Tags: short sell rehab retail


Ibrahim S

Real Estate Investor · Union, New Jersey


Forum_avatar_avatar-shabaka_nj

Pro Basic

May 24 '11, 10:41 AM

I originally was looking to pick up a short sale for no more than $75k cash in order to rehab and resell. However, bank wants $85k. I'm also a Realtor who has a buyer for the property (in fact, I was going to rehab and sell retail to her - she's open to buying this as a fixer upper). Can I somehow switch myself out and add in retail buyer? Is this something that banks usually go for?


Stephen McKee

Real Estate Agent · Redlands, California


Forum_avatar_avatar-licwidsand

May 24 '11, 11:05 AM

If you're going to do it, be very transparent. You could end up in a secret profit situation if you don't. Full disclosure to the listing agent will usually get you through it. There is still a chance of losing the deal.




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