you might also consider taking out a construction loan, if your into flipping and pay it off after you sell.

I would check with a local bank loan officer as they usually can do a construction loan and the long term financing.

Also check with the local health office to make sure the apartment hasn't been closed down for some sort of health or safety issue (sewer problems, mold, unsafe construction)

Return: A construction loan has already been granted for $1,800,000 after property is acquired.

I do Complete Rehab, water fire, mold damage restoration, mold inspections, (re-builds) drywall, painting, post construction cleaning, carpet installtion and tearouts, new flooring, property management, I have 11 certifications, 2 are Master Certifications.

That is unless you played some land trust games, then it could be trickier.However, if they have constructively abandoned their right to foreclose, it is my understanding, they could still go after the former seller who breeched the contract.Anyway, the path of least resistance is usually better so if your buyer can refinance, do it and just move on.Also, in the future, include verbiage in your contracts when you buy to allow you to seek recovery from the seller when they do something like this later.

I have done really high end rehabs, new construction, out of state rehabs, rentals, commercial, you name it.

For charitable donations deeds of covenant have been superseded by Gift Aid.Warranty, in U.S. law of contracts, an undertaking expressed or implied, given by one contracting party to another, that a fact alleged with respect...DeedDeed, in law, written instrument that transfers an interest in real estate.

You take over the property without paying off the existing loan, and start making the payments.Since this is a builder property, however, he may have some sort of short term construction financing that you would not want to pick up.80% of MV, especially if the seller is giving you that market value, is no deal these days.

Hard money, or, if you can find them, construction loans seem more applicable.