All Forum Posts by: Justin Cothran

@Marcus Hill

Same position here. Did you ever find a solution for a 3rd position heloc?

Thanks in advance.

Hey there, I am a realtor in Florida working a USDA deal and found out it didn’t appraise. After reviewing the comps I could see why it appraised so low. Sellers will not negotiate because they know the house is worth more than the contract price and my buyers do not have the funds to make up the difference. I have sent the loan officer other comps, who sent them to the underwriter and there seems to be no change. My question is, is there another angle that I can approach this? Thank you.

Hey there, I am a realtor in Florida working a USDA deal and found out it didn’t appraise. After reviewing the comps I could see why it appraised so low. Sellers will not negotiate because they know the house is worth more than the contract price and my buyers do not have the funds to make up the difference. I have sent the loan officer other comps, who sent them to the underwriter and there seems to be no change. My question is, is there another angle that I can approach this? Thank you.

Sometimes, it depends though. The first thing that you’re going to want to find out when you’ve found a seller willing and able to owner finance is the terms. Interest rate, down payment, amortization, etc. A lot of the time you will find that owners willing to finance you their home will require a substantial down payment. Best of luck to you in your investing!