Finance a Foreclosure

[Barrett Brown]

I will try to keep this short.   I have a great foreclosure deal that could net 50k after all costs or $600 per month in cash flow.  Problem is, it has mold in the basement. I am 110k short to finance all cash. My lender said they will have to have an appraisal, when the appraiser states there is a severe mold problem, the underwriter will require this be corrected before closing. The bank will not take care of as the house is sold "as is", therefore I can't get the money to purchase.

Anyone have a situation like this before?

Thanks in advance.