All Forum Posts by: Claudia Mexicano

Can anyone give a good recommendation of a REI Group in the San Jose CA area? I'm in Monterey, anything closer to home would be great. Thanks!

@ k Marie

The 40k is a line of credit that belongs to the seller and it is recorded against the property.

Good info. to know for the future. Thanks.

Sorry for the confusion, but I really appriciate the tip! These are my first deals as REI. Makes perfect sense thanks

BP forum, I have questions and I know you have answers! Althought I'm always reading the latest blog, this is my first time posting on BP.

I will post my current dilemma, if anyone has had a similar situation, please she'd some light!

I now realize I should have started this deal from the end and worked my way to the beginning, but I am where I at now. I currently have a property under contract "agreement of sell" (per my counties recording regulations) which is very alike to a land contract, there is a 40k line of credit which will be paid at closing to free and clear the lien. Its a fix and flip. Here's the problem, I'm working on a simultaneous closing from sellers financing to me, from me to the new buyer. I'm near closing date and the buyers lender threw in a funding condition #1 to add myself to title and #2 add the seller to the new contract between the new buyer and I which I don't oppose but the seller is not willing to "jeopardize" her property in any way by adding me to title and in some way I pull a fast one on her. So the underwriter for the buyers loan does not want to approve to move forward to loan docs (conventional loan) unless items 1&2 are performed. I have been brainstorming all day of alternative ways to satisfy all parties. I suppose worst case I put back on the market and accept cash only although I know I'll make a lot less profit. Any ideas?

- Claudia