Not necessarily a losing deal from my perspective though.

What borrower can expect for an SBA loan is different than the process/docs required for a hard money loan or say a church loan.A knowledgeable broker should easily be able to impart their knowledge as to how a particular lender and/or loan program works or what the current market appetite is for a particular property type is.That, and a good broker should be willing to spend the time and work pro bono while they approach lenders.

I would recommend finding an accountant you are going to use and work with them to come up with a system that will translate to theirs easily.

Is there any steps I can take to get in on this deal before anyone else since I know when he will be losing the home?

Ok thanks, this is actually my first deal so thats why I am trying to make sure everything goes smoothly and i wont lose money so thats why i choose to even give EMD after lender approval....On the flip side im giving the listing agent my side of the commission and so I think that this would even out the board.

I was surprised this passed so easily, never heard of any other city doing something similar.Justin, did I speak to you about the apartment deal about 2 weeks ago?

Luckily its not and while I do cringe every time I check on it, I'm not losing my butt on this deal.I urge everyone looking into deals to buy with the head and not the heart.

And the snowball would just get bigger.The banks don't look at it as losing an additional 10k by keeping the house vacant an extra year.

I know she's getting good deal (this is my opinion) considering that 3 bedrooms in our area rent for roughly $2,200.00 to $2,600.00 per month and to add insult to injury she has a single which is detached from the home that could easily go for $800.00 to $900.00.

Nothing is worse than losing a great deal because you cannot get financing in time.