RE Broker wants a WRAP rather than Sub2 - Explain like I'm 5?
I'm not sure about the suggestion of the broker that is selling this property.
I requested a Sub2 agreement with the seller (It's in probate, they're just trying to get out without losing money), and the broker said that a simultaneous closing won't work (because it's an FHA loan, I'm guessing?). She did suggest that we do a Wrap, and asked if I was interested in that. I'm thinking "same difference?"
The only benefit I can think of to doing the wrap is that the loan will season while we repair and sell the property, I think?
Do you see a good reason for the Wrap? I am asking her today, but I also know that she is not MY broker, she is the seller's. So I thought I'd reach out to the wisdom of BP.
Thank you in advance!