Updated almost 9 years ago on . Most recent reply
Hard Money Lender - Purchase with Outstanding Code Violation Lean
Looking for a Southern California (San Diego area) hard money lender that will finance the purchase of a property that has a lien recorded by the city for permit/code violations. Anyone have recommendations for a lender that they have used in this situation? Lender should be familiar with the permitting process enough to be comfortable lending with an outstanding threat by the city to impose potential fines.
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@J.R. St Julien Deja vu. I was in this exact situation about 18 months ago and found no HMLs willing to get involved in the property. I ended up getting some other folks to jump in with me and took the project on. Admittedly, I only contacted ~4 HMLs about it, but the response was the same.
I don't know the extent of the violations you're dealing with, but in my case the property received EXTREME oversight from the City as we applied for permits and throughout renovation - I've got stories. :)