All Forum Posts by: Alex Locklear

I have found a couple local banks who don't have seasoning issues as long as they do their own appraisal, etc.

The problem I'm seeing is trying to figure out how to get my buyer (retail buyer) to use the lender I need them to. Should I incentivize them somehow? Maybe offer a rate buy down?

Ok great. And title searches are done by the closing attorney and NOT the lender correct?

If I record an option on a property I have at the court house downtown, will this start title seasoning?

Over 20 people now confirmed dead in NC. Was absolutely crazy here in Raleigh yesterday...the tornado that effected us in Raleigh started in Lee County, near Sanford, and went for over 60 miles!

Right, I've only flipped a couple short sales and every time they were to retail buyers just looking for a good deal instead of cash investors. I just called around to a bunch of local banks...not Wells Fargo, Bank of America, Chase, etc....I would ask if they had seasoning requirements, it took a few calls but I have found a couple banks who won't enforce seasoning requirements as long as the house appraises.

I've done a double closing on a short sale. I have a few local lenders that don't have seasoning requirements as long as the house appraises...which makes complete sense.

Jon, I get tons of motivated seller leads who often have fairly nice houses with very minimal repairs who can't quite let go at 60-70% of market value. But often times when I look at the area, they would be the best deal out of any house currently available on the market in that immediate area.

I would not have to worry about a conventional lender refusing to pay my fees because I would do a double close where I would actually buy A-B and resell B-C with transactional funding.

Thanks J Scott...there's a section on our state listing agreement that asks if you currently own the house and you can check yes or no...so I'm guessing that would take care of it...

Has anyone put a house under contract and found an agent to list the property for you on the MLS since you now have an equitable interest? I'm thinking of doing this and disclosing to the seller my intention of marketing the property and hopefully selling for a profit immediately after I buy. I would do a double close and collect my proceeds after paying both the listing agent/buyers agent's their commission.

Okay guys/gals, I have someone who is ready to make an offer on a property but the agent they have an agreement with has not given them the time/service they need.

What is the process/right way for this client to go about ending this agreement with their current agent and working with me?

Thanks for any help!