will this guy get financing?

will this guy get financing?

Detroit, MI · Member since 2015 · 52 posts · 3 votes

i spoke to an older lady. her husband passed away and she moved but kept the house.

the house got broken in to. copper pipes stolen and two feet of water in the basement. not sure what else is wrong.

first time i spoke to her, i thought it was a deal. she seemed relieved to be talking to me. she said that her insurance company does not want anyone entering the home until they check it out.

i followed up with her the next week. she said that now the insurance company wants her to take pictures and she hasnt had time. so i still cant check out the home to buy it. (is there any way i can get her to speed up the process?)

  on top of that, she said that her old neighor has been wanting to buy it so he gets the first offer but he needs to see if he can get financing from the bank.  (what are the chances of him getting financing from a bank?)

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Linda WeygantPro Member
Investor and CPA · Arvada, CO · Member since 2015 · 2k+ posts · 3k+ votes
11y

What about volunteering to go over and take the pictures for her?  Two birds, one stone?

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  • Investor · Leominster, MA · Member since 2011 · 1k+ posts · 589 votes
    11y

    He could get a 203K loan. 

  • Kerry BairdPro Member
    Rental Property Investor · Melbourne, FL · Member since 2011 · 3k+ posts · 2k+ votes
    11y

    Keep up the rapport with her, and keep following up. The neighbor could buy or not. Still, good follow-up might very well gain you the deal. 

  • Detroit, MI · Member since 2015 · 52 posts · 3 votes
    11y

    what about helping her speed up the process with insurance company?

  • Lender · Rochester, NY · Member since 2014 · 3k+ posts · 1k+ votes
    11y

    @Danny Woodson

    The house needs to be in livable condition to get financing...... No plumbing no financing unless it is a rehab loan.

  • Linda WeygantPro Member
    Investor and CPA · Arvada, CO · Member since 2015 · 2k+ posts · 3k+ votes
    11y

    What about volunteering to go over and take the pictures for her?  Two birds, one stone?

  • Investor · Los Angeles, CA · Member since 2014 · 180 posts · 72 votes
    11y

    I was thinking you could volunteer to go with her to take the photos. Give you great face time to build rapport and see the house at the same time. 

  • Detroit, MI · Member since 2015 · 52 posts · 3 votes
    11y

    @Daniel I.

    @Linda Weygant

    i was thinking about doing that but i was not sure how legal that was

  • Investor · Los Angeles, CA · Member since 2014 · 180 posts · 72 votes
    11y

    @Danny Woodson Well, I am not a lawyer, but I would think there is nothing illegal about accompanying an owner to their own home. 

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