Making inquires and failing to get a loan is reflected in the score calculation as it implies a credit risk.  

Not to make excuses, it does seem like a skinny deal, but to imply the person is dumb for considering it, I'm not sure I can buy that. 

What's been inaccurately implied in this thread is that most probates are not distressed sales. 

Implying to a newbie that an offer can be made on the spot is pretty irresponsible, but what else is new from wholesale gurus?

I'm watching training on avoiding some of the problems with closing wholesale deals and trainer is suggesting user the Seller Side Hud form. 

@Kyle Gregg I understand you pay one mortgage on a multiunit property, my comment was intended to imply a MFR will likely have a higher monthly payment do to higher taxes and more expensive of a purchase price.

You mentioned that you were denied because of your wife's work history, which implies you needed her income to qualify for the loan.Because she has not worked full time for the two years required to use her income to lower your dti's, you were denied, not because of discrimination.Your 100k income and 760 fico scores sound impressive, but don't matter if your dti's are too high.Try contacting a mortgage broker in your area that can get you wholesale rates vs the retail rates BAC would charge and this may be enough to lower your dti's, otherwise the mortgage broker may be able to offer you a different loan program that would help you qualify.Good luck and keep us posted.

@ greg I think you are implying that a GC does not make any mistakes.

This is still an installment sale.Other installment sales do not convey title, such as the old contract for deed, or a financed option with a lease, some trust conveyances are made after full payment has been made.What is was referring to was the implied comment as to holding title as an owner and having a lien interest in that property, that doesn't fly.Not really an exception, but an example, I sell you a 1/2 undivided interest in a property, I may still have an undivided interest but I may secure your interest with a security agreement, my lien is not to the interest I hold but rather that held by you

That implies a 400bp "absorption" of the interest rates that didn't impact the cap rate in the last cycle.