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Updated almost 9 years ago on . Most recent reply

Tzvi Balsam's profile image
Tzvi Balsam's profile image
Tzvi Balsam
  • Investor
  • from Brooklyn, New York
  • Member since May 30, 2016
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Tzvi Balsam's profile image
Tzvi Balsam's profile image
Tzvi Balsam
  • Investor
  • from Brooklyn, New York
  • Member since May 30, 2016
Connect
Tzvi Balsam
  • Investor
  • Brooklyn, NY
45
Votes |
224
Posts
Private Lending & Conventional Mortgage Advice

75 ltv on a resigned contract ?

Tzvi Balsam
  • Investor
  • Brooklyn, NY
Posted

I am in contract on a great investment property 6 Unit 430K I would like to resign it for 500K I found someone that wants it he sent it in to his bank and the bank told him that they will only honor the original contract and give him 75% LTV on 430K.

Now he tells me he will only buy it if I find him a bank that will honor the contract.

Any advice? I know in brooklyn on big propertys they honor it no problem.

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