All Forum Posts by: Travis Bronson
Travis Bronson has started 1 posts and replied 7 times.
Post: Lender Fell Through and Closing is Coming Fast
- Posts 7
- Votes 1
Originally posted by @Eric Veronica:
@Travis Bronson Who is setting that drop dead date? Are their agents involved. If there are agents involved then half of the fault lies at their feet. An agent should know better than to schedule an appraisal without water/electric/gas.
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It's being bought through a wholesaler, they have set the date.
Post: Lender Fell Through and Closing is Coming Fast
- Posts 7
- Votes 1
Originally posted by @Eric Veronica:
@Travis Bronson what type of inspections. Often time sticking it out with the current lender is the best bet.
The initial inspection noted previous termite damage, but no activate infestation, so they wanted an additional termite inspection. They also wanted an additional electrical and plumbing inspection as the the initial inspection was completed with those being turned off.
The current lender isn't an option if they can't close on Friday. We have to close regardless, so it's either find a new lender or I have to put up 100% of the cash.
Post: Lender Fell Through and Closing is Coming Fast
- Posts 7
- Votes 1
Originally posted by @Jay Hinrichs:
also be careful of Fake lenders sending you PM's that is rampant on linkdin facebook and BP.
they usually tell you what you want to hear to suck 500 to 800 out of you with rates that are not real and terms that are not real.
small balance loans can be tough like this.
That's really good to know, thank you for the information.
Post: Lender Fell Through and Closing is Coming Fast
- Posts 7
- Votes 1
Originally posted by @Jay Hinrichs:
try Lima one they are based there in the carolinas..
Thank you, I will look into them
Post: Lender Fell Through and Closing is Coming Fast
- Posts 7
- Votes 1
All right, thank you for the information.
The subject property is in Clover, SC.
Purchase Price: 67,500
Rehab cost: 30,200
ARV: 126,000 (Appraised)
Down Payment: 20,000
There is no existing title commitment
The other lender was scheduled to close on time but as of today requested two additional inspections and to redo the majority of the paperwork. With this request they stated that they would not be able to close on time.
Post: Lender Fell Through and Closing is Coming Fast
- Posts 7
- Votes 1
Is that acceptable? This is my first post and the rules stated that I shouldn't ask for loans or lenders.
Post: Lender Fell Through and Closing is Coming Fast
- Posts 7
- Votes 1
I have a signed contract which is set to close on Friday the 14th, however, my lender fell through. Is there anywhere I can find a hard money lender or private lender that would be able to close by then?