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Victor Oden
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How do you save a deal under contract when your funding backs out?

Victor Oden
Posted

Hello everyone,

I have a home under contract in Portland, Oregon. It is a major fixer, but the property is on a double lot, attractive for a developer or fix and hold investor. My goal was to fix and flip, but my gap lender and then my lender backed out. How can I save the deal or at least, get my earnest back after my 10 day inspection period? I've been looking for a new gap lender, but everyone is saying their money is already in use.

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