All Forum Posts by: Luiz Souza

Is anyone here dealing/making money with high end properties?
If so, can you please share your exit strategy.....

Thank you

LSouza

That's right....They want to see the HML's BANK STATEMENT or in another words DOLLAR FIGURES. No Bank Statement ( showing at least the amount required to purchase the property) No Deal - according to WF.

We closed on one SS a little over a week ago (2/18) with WF backed by FHA. No restrictions or problems at all. Just had to show them my local private lender's POF- Bank statement.

L.Souza

My answer is - Flat Fee MLS.

L.Souza

FHA backed loan.
The negotiator was very especific by saying that ""this is a brand new Wells Fargo rule and not FHA"".

Just received a message from a WF negotiator saying they no longer accept 3rd party POF letter. They need to see bank statement to show the required POF.
How are you handling this if using flash funding? Are HMLs willing to provide this info.?

L.Souza

Anybody else???

Title is good!

I need to get an extention on a SS I've been working on and still fishing for a buyer. What will be the best way, subject or excuse to provide the negotiator so I can get this extended for another 30 or 45 days?
Thanks for your help.

L.Souza

Just received the SS approval this past Friday :)

Yes, the original loan was FHA & I am trying to attract Cash Buyers instead of FHA.

NO STIPS OF ANY KIND SO I CAN UNLOAD THIS PROPERTY FOR A PROFIT AT ANYTIME.

Thanks anyway.

L.Souza