A-B-C in 15 days
While I've done a couple of back-to-back closings on a couple of deals, I've never done one where there was some work to be done for the end buyer to close with a conventional loan.
A-B contract to close Friday, May 9th. End buyer wishes to close B-C on or before May 30th.
Property is in need of a new HVAC and water heater to meet FHA requirements. I wanted to save money ($ 3,500 versus $9,000+) and time and do transactional funding for the deal, have the units installed over the weekend (scheduled and paid for by me) and have it inspected on the following Monday or Tuesday to satisfy the issue and close quickly. Have any of you done this or worked with transactional lenders for this type of transaction? I am currently consulting with one who will do the deal, but wanted to solicit feedback in the event that a more experienced REI had more insight (after the fact... of course; I'm already behind if I've screwed up).