I have found a great deal that I want to purchase and need advise or examples of what people have used to approach the bank. It's a eight unit apartment pocket listing, the owner does not live locally and wants to be done with it.
What kind of documentation do I approach the bank with? Do I need to make up a pro forma spread sheets, anyone have examples of these? What are my loan options?
When I submit an offer I want submit a bank loan option and seller financing option. Thanks in advance!
@Holly Buell If the owner is still on title then you would need to do a deal with the owner and not the bank. Maybe a short sale. I would first speak to the owner and ask him how much he owes on the mortgage. Do a market analysis on the property and make the current owner a offer and then speak to the bank with the offer. If the bank owns the property they will only accept cash or financing. No seller financing. Hope this helps.