Hey all,We just found out that we won a bid on a duplex as a cash offer for 140. We had hard money lined up for it but didn’t realize it’s technically not a cash offer (fail fast and fail foreword, right?). So we are...

Please read the article, NY has approved suspending mortgages if you can prove you're having an economic hardship.

@Nate Bell first thing I would suggest is contact the County planning commission and see if they will approve such a subdivision and what their requirements are.

Our attorney's update was to remind us of all this.She wanted to remind us as she defends 100s of landlords and on down the road in 3 or 4 months when you go to evict a problem tenant, wh8 now has free legal representation that the tenant groups are still meeting and trying to get approved, she doesn't want to have to also fight a fair housing issue too.

If the property cash flows then you will be approved.  

My loan is approved, option periods are over, inspections done, appraisals done...were pretty much at the finish line.

I have a lender, but it's taken a very long time to get a pre-approval done. 

We have standard agency agreements for both listings and selling. 99% of agents in SC use the same ones because they're written and approved by SCAR. 

Then we go to the bank and ask them to put a mortgage on the house now that it is fixed up (sometimes the properties we buy wouldn't be initially approved for a mortgage until fixed up) Then when your house appraised they will give you back 80% of the amount the house then appraised for.

The days of "drive by" inspections are over.Don't even think about proceeding with any work until you have written approval from your inspector.