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Updated about 8 years ago on . Most recent reply

Tyler O'Malley's profile image
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Tyler O'Malley
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  • from Elmhurst, Illinois
  • Member since May 4, 2014
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Tyler O'Malley's profile image
Tyler O'Malley's profile image
Tyler O'Malley
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  • from Elmhurst, Illinois
  • Member since May 4, 2014
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Tyler O'Malley
  • Investor
  • Elmhurst, IL
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Wholesaling

Assignment

Tyler O'Malley
  • Investor
  • Elmhurst, IL
Posted

When assigning our current contract, are we able to use an assignee who would use an FHA mortgage, or is it a strictly cash buyers scenario? Appreciate any help, guys. Thanks

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Steve Vaughan's profile image
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Steve Vaughan
  • #1 Personal Finance Contributor
  • Rental Property Investor
  • from East Wenatchee, WA
  • Member since Sep 19, 2014
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Steve Vaughan's profile image
Steve Vaughan's profile image
Steve Vaughan
  • #1 Personal Finance Contributor
  • Rental Property Investor
  • from East Wenatchee, WA
  • Member since Sep 19, 2014
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Steve Vaughan#1 Personal Finance Contributor
  • Rental Property Investor
  • East Wenatchee, WA
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Steve Vaughan#1 Personal Finance Contributor
  • Rental Property Investor
  • East Wenatchee, WA
Replied

Banks/ lenders don't like a middleman bumping up prices, sellers don't like waiting 30, 60, 90 days while FHA rams repair requests down there gullet. A lot of work with a low probability of success for a one-time payday at a high tax rate. I would probably find a different buyer.

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