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Updated about 1 year ago on . Most recent reply

Flip wont sell. Need refi with subpar credit.
I have my flip for sale but it's not selling. The process has gone on for 1 year and has been for sale for 3 months. My agent over valued and listed high. After a few price drops, we had it under contract. The would be buyer made ridiculous demands and essentially used a few minor issues on inspection report to terminate. Since then I've continued to drop price but no luck on a sale. With the high listing price and sale fall through, I believe people think something is wrong with it. Its an older house but i did everything in house(I'm a contractor) and did an excellent job. Within this journey my credit dropped alot. From 700 to 575. I'm out of time on my hard money loan and I need to refinance, but credit is now damaged. Richer values put the house at 299k ARV and comps support this. Only 187500 on the note. Home is in desirable Oakmont, PA. Does anyone see any options for me here? Any lenders who may assist?
Most Popular Reply

Thank you for the advice. I dropped to 219k and have multiple offers coming in now. My first post here and my first flip. Thank you Bill