If they do not qualify because of poor credit or income issues compared to being self employed etc there are differences - but typically people don’t qualify due to poor credit and people will seller finance to these borrowers thinking they woke up at a holiday inn and got a finance degree when in reality they repeat their past mistakesRemember the definition of insanity is doing the same thing over and over again expecting a different result

Did you pay with a credit card?  

I found a property on the Sheriff sale website in my county in NJ and the current status of the property is: Status History (Current Status:Bankruptcy/Adjourned - 9/24/2025)I like the property and would buy it if it makes sense but I don't know where to start.

In 2021 we bought the building for $1.5M using private lenders, pushed the occupancy from 50% to 80% occupancy and it appraised for $3.125M, allowing us to pay back the private mortgage.Right now, we are in the predevelopment process of design and piecing together the capital stack for the redevelopment deal, which will be made up of historic tax credit equity, RestoreNY Grant, DRI Grant, etc.

Credit 700+, bank statements available, good liquidity position (almost enough in cash to purchase the property - but obviously know that's idiotic).  

Some also don't have the means to come up with a downpayment or have low credit history so they can't get a mortgage.

From there, it's normal DTI/Credit/Cash assessment for the new loan to determine whether you can afford the loan. 

Real estate investors do not get lines of credit from a bank.

If the house is listed as-is, there won’t be much room for negotiation (ie. seller concessions/credits), but you can offer a price that factors in the rehab components.

They are also the same individuals who are constantly involved in conflict, have terrible loss run histories and therefore higher insurance premiums and are paying far more on legal.