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Updated almost 9 years ago on . Most recent reply

Account Closed
  • Austin, TX
0
Votes |
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​Looking for investor to do a note - any advice appreciataed

Account Closed
  • Austin, TX
Posted

Looking to do a note for $80-100K to complete a condo sale in Virginia that needs cash to close as the seller:

  • Have buyer under contract, as a short sale
  • Short sale negotiations halted by Freddie Mac, the investor
  • Would still like to continue with buyer as a conventional sale
  • Need note to close on deal

Any advice (ideas, approach, questions, recommendations: private lenders/hard money) is greatly appreciated. This painful storyline has been posted in the Short Sales part of this forum and it's been an ongoing saga thru mod, short sale for over a year. At this point, I need to be on BOA's payroll to play this game!

Thanks all.

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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
13,509
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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
Replied

Agreed, we have no idea what you are asking for.  If it was a short sale, and now you want to do a "conventional" sale, it sounds like the buyer must pay more the property than it's worth, and you're looking for financing for that?  Also if you can, what do you mean by "negotiations halted by Freddie Mac"........you're just still waiting for a final approval, or they actually denied the short sale?

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