Updated almost 4 years ago on .
Creative Financing with Non Private or Hard Money Loans Or SF
Im interested to hear others who have financed not such great shape homes with financing that was neither private or hard money or seller financing? Recently, I was able to get a conventional loan for a customer and navigate the way around a home built in 1940s with unsafe wiring, cloth, and aluminum single strand wiring, and 17 ungrounded outlets. Working with my resources i was able to convince seller to provide close to 10k in concessions and additional repair money to put in escrow hold back for repair repairs after sale and money coming from sale proceeds. In addition, the home had a roof leak. I used ESCROW Holdback and a normal conventional loan to get this done. In addition, i referred to the seller and buyer all repair contacts for almost half of what the fixes would normally cost due to my resource connections in the area. Im a realtor and an appraiser trainee half way through my traineeship, and an investor who tanks on the challenging properties.
Would love to hear others creative stories of difficulties they have went through and how they navigated the. Im now in contract to pass a busted pipe in the wall with non of the special financing you would normally hear about. Im able to get discounts on these properties too but able to ease my seller to move forward and accommodate them without putting the stress on them of completing the repairs themselves. Again, would love to hear other stories and please reach out to me as well if youd like. Im in the jacksonville and surrounding area markets in Northeast FL.