Refinancing a seller financed rental

[Marcus Holloway]

Hey BP, 

I'm in the underwriting stage of what is now been a 4 month refi process. I'm using a private lender. I started the process by explaining to the lender that I'm seller financing a property in hopes of BRRRRing it into a 30 yr fixed. 

Long story short, the underwriter doesn't want to close because I have a recorded land contract instead of deed. I explained the deed is still in the current owners name until I pay off the seller financing and the land contract gives me legal ownership until that time. 

I explained this in detail when I began the application process. Now they're acting as if this something they've never seen before. 

This is my first time seller financing a deal but I was under the assumption this is a very common deal in the investment realm. 

Has anyone else had these issues and or overcame them? 

thx

[Stephanie Medellin]