Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Commercial Real Estate Investing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 12 years ago on . Most recent reply

User Stats

907
Posts
258
Votes
Michael Lauther
  • Investor
  • Hampton Bays, NY
258
Votes |
907
Posts

Financing A short sale when property is in disrepair

Michael Lauther
  • Investor
  • Hampton Bays, NY
Posted

I have a retail buyer for a property that has repair issues predominantly mold in the finished basement caused by a pipe burst that dripped water over a long period of time causing water to enter the basement and mold to grow on Sheetrock walls and hung ceiling.
The potential Buyer can qualify for a mortgage and is willing to offer a price that would take into account repair costs of substantial deferred maintenance and mold. The property according to the buyer will not qualify because of the condition. Perhaps he is not looking in the right place for financing.

What options would this buyer have to purchase the property?

Loading replies...