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2010-10-10 14:32:29
Purchase non-financeable?

Often times I come across buyers that fall in love with a specific home that because of the condition of the home, the home can't be financed.  I have solutions for those home-buyers.  I have investors that would be willing to provide hard-money lending, a bridge loan or stand-in investor contractors that are willing to purchase a home in cash, make whatever repairs are required to make the home financeable and then 'sell' the home to you, the intended buyer for a pre-determined price with the expectation that you will then be able to obtain your financing to pay off the investor. 

There are also rehab loans available to home buyers such as the FHA 203k rehab loan that allow buyers to purchase a property for its existing value but obtain financing for the projected value of the home in a repaired and/or upgraded condition.  Once the transaction is closed and the seller is paid, the buyer is under contract to complete the repairs using specified contractors.

 

 
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