All Forum Posts by: Daniel Barden

Hello everyone I'm a new wholesaler in northern Oakland county. This site is a great place to connect with a lot of experience and everyone is very helpful. I would love to network with all of you.

Thanks for the help guys it was worth a shot see if I can do anything with it. If anything it was good practice in dealing with the seller.

I asked those questions and this is what i got back.
Yes, there is a Realtor involved.The buyer is mortgaging the purchase of my house (conventional) with a down payment.Not sure who they are going thru but I can find out if you need the info.I don't know the buyers...they were brought in by the Realtor.If I can't obtain a loan by Monday, Fannie Mae will take the house and I get nothing.The buyers will not be buying the house.  Fannie Mae has nothing to do with me sellingthe house after or before I acquire the deed back. I don't have to sell my house to the present buyer.  If I need to arrange another deal Iwill do that if I can keep Fannied from taking it. If you can get a cash buyer so that I may keep equity I would be interested in learningmore about it.

What about for someone who has no other deals to work out? Just trying to gain some experience and maybe make a few bucks.

Then do a double close or something? This all would have to happen by cob on monday by the way....lol

If she dosent figure something out quick she will lose it all. Should i ask her to try to get out of the current contract and put it under contract and try to find a new buyer real quick there is 55000 in equity so there is room to work with.

I just found out her buyer is a retail buyer that is doing a traditional loan so closing will take 30+ days or so?

I wish I had the 166000 to loan. She is looking for a loan. Is there a way I can find someone (private lender) to loan her the money and get something out of the deal. Would this situation be kind of like a double closing or simultaneous closing.

Here is the situation. The lady was forclosed on and had a lawsuit with fannie may, she lost the lawsuit and came to an agreement to purchase her home back for $166000. She needs a short term lender to come up with a down payment by monday and then has a month to come up with the rest of the amount (150000) so she can buy it back and sell it to the new buyer.She has a purchase agreement with a buyer to buy the house for $221000 already. Is there anything i can do to help her achieve this. She dose not want to lose all of her equity ($55000) she has but understands she wont get it all back. What to do? Or just pass?

When I have a question like this what's the best way to research it on the site because I tried to research it on the site before I asked it I couldn't find anything.i