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Updated over 4 years ago,
Finance Part of a Sell and get a Lien for a Wholesale Deal
We have a buyer who is using a hard-money lender and can only finance part of the transaction while putting down the rest in cash to bring it to the price we're getting the deal for. He's willing to pay more but since he isn't able to get anymore credit from his hard-money lender, I thought we might be able to finance the remainder and put a lien on the property for that remaining amount. This is the Texas market. Has anyone ever done that before? Would the hard-money lender have an issue with us putting a lien on the property for that small amount? Is there any other way to do this?
Thanks!