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Private Lending & Conventional Mortgage Advice

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Tzvi Balsam
  • Investor
  • Brooklyn, NY
45
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224
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75 ltv on a resigned contract ?

Tzvi Balsam
  • Investor
  • Brooklyn, NY
Posted May 30 2016, 11:10

I am in contract on a great investment property 6 Unit 430K I would like to resign it for 500K I found someone that wants it he sent it in to his bank and the bank told him that they will only honor the original contract and give him 75% LTV on 430K.

Now he tells me he will only buy it if I find him a bank that will honor the contract.

Any advice? I know in brooklyn on big propertys they honor it no problem.

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