Scott, I must say, it's rare for me to communicate with someone who is creative in there thinking and solution oriented at the same time...most people would simply say, "can't"...this word should be abolished from the dictionary, anyway, your solutions seems quite applicable, have you ever done this? I'd like to ask a few more detailed questions please. For example, let say I can buy this house for 210k, it's appraised value is 240k and that's what I can sell it for, to my end buyer, 240k. Before I "gave up" my end buyers info., would one submit an option contract with offer to seller, then, after offer of 210 accepted, explain to seller the financing obstacle, but also explain the solution. The transactional funding will not go thru without end buyer goes thru. I'm sure your aware of this type of funding. So when offer accepted, maybe, for example, offer 240k, and have them sign a Promissary note for 25k, so they, the seller is making 5k more, but how does one "secure" the 25k? Can I make that the promissary note a 1st note or wrap as I don't want to be in 2nd position and maybe get taken advantage of? I'm sure I can't be in first position, but wrap it some way, or secure with house? How do I file lien on property where the seller is obligated for payment and not the new homeowner, my endbuyer? I appreciate any light you can shed on your solution...and I must say, I'm impressed with it :)
cj