Lost Private Lender, What next?? Northern New Jersey

[Jonathan Valdes]

Hey BP...so I have been cruising the market of Norther NJ for the last 2 to 3 years. I got a property under contract & pasted attorney review. I went to inform my private money lender about how everything is going. But then learned they had to turn back. it wasn't due to the deal, but their personal life caused them to shift.

I am stuck!!!!!!! I want to scream, but I cant! I made a promise that I intend to keep. This property is in a sexy park of NJ. It backs up to the Saddle Brook County park, in a 100 yr flood zone (2k a yr). 3/1 bottom floor 1/1 second floor, unfinished basement (for now).

$425k loan

$7100k taxes

1/1 - $1700-1800, once updated

3/1 - $1900 - $2500

Considering that I need to give the seller $10k on Monday, I am scared to loose this deal.

BP, what should I do??? 

[Wayne Brooks]

@Jonathan Valdes Yep, your post didn’t make it seem like an owner occupied.