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Updated about 14 years ago on . Most recent reply

User Stats

212
Posts
8
Votes
Dee Xixi
  • Real Estate Investor
  • waltham, MA
8
Votes |
212
Posts

Buying post auction

Dee Xixi
  • Real Estate Investor
  • waltham, MA
Posted

I just want to run this scenario by you guys for insight please.

I contact an auction company about two condo units under, technically the former owner split a dulex into condos(craziness) that they didnt get to sale at the auction. Their loss mitigation informed me that the seller wants xxxx for the properties. I am confortable with the price they want. so should i use a 30 days funding so that I can convert the property to a duplex again or what are my option for a normal funding. There is no way that a conventional lender will fund the property as 2 seperate condo units. but the seller is fannie mae, how is the deed restrction might play out.

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