The seller is essentially asking the bank to accept a loan payoff "short" of the amount required to fully pay off the loan.If the offer on the property is for the amount owed or greater, it would not be a short sale and not entail the need for mortgagee approval.

The sellers acceptance of your offer is an essential step toward the purchase.

These investors would rather deploy capital into bad investments than to have the capital sitting on the sidelines -- this allows them to push off the problems of dealing with irate shareholders to tomorrow instead of today.So, we are able to wholesale non-rehabbed properties at essentially ARV to investors planning to hold as rentals.

The DPA program will fund the 35% to my account to show DP satisfaction to the bank however the seller will essentially give the DP back.It may work if the seller is willing to accept a lower offer for the home.

The term is up to you; however, they bank may not go for it.Typically the better situation is over the course of them renting they pay a bit extra into essentially a down payment fund for when they finally purchase from you.The rate and term is up to you; however, it cannot be zero.

This seems contradictory since I am essentially trying to do the same thing as a would-be purchaser, that is, buying a renovated property and financing it with a mortgage (the only difference being that I already own it outright) This new loan officer said the reason the seasoning period is different is because lenders are afraid that someone in my shoes could potentially walk away from the house once 80% of the cash was taken out of it, and the would-be purchaser has more of an incentive to actually keep the property.

I have a contract template i got off this site but im not sure what goes in each blank 4. and buyer wise do I negotiate a deal with the seller first then see what the buyer was looking to pay for the property. 5. when showing a deal to a buyer/investor what information are they looking for the most besides price. i know they want value but are things like taxes in the area or the local school district important when providing local detail on what makes the deal good?

I cant tell you how many times I have essentially given away money I rightfully deserved for my hard work and expertise, out of my desire to be "fair" and to use the gifts Ive been given to help others.

:)Sorry, J, I think I misunderstood the question.We use a variety of different charities, but essentially the charity is acting as a wholesaler in the deal.

Ideally, one would look at the estimated cost for essential repairs such as demo, drywall, paint, floor prep, electrical and plumbing, etc., and then choose cabinets, countertops, and flooring based on what remains in the budget.