Scott, you right about FHA buyers. The listing says Conventional or cash buyers preferred. The price of the house is actually very reasonable and each offer has been full price, but the area is generally low income and most buyers will be FHA. I found a loan officer at Wells Fargo who may have some other type of programs for these first time buyers with little down, that are not under the same FHA guidelines.
The real problem is that FHA buyers are very sensitive to costs and they are usually skating on thin ice when it comes to credit score.
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No, not a flip. Your investor should find a transactional lender or a hard money guy willing to hold for 30 days.
Thanks Scott and Michael. I have to talk to the title Nike Jacket Pink
3) Disclosure: Having the FHA Lender fully disclosed about the transactions and all paperwork. Making sure your Title Company will convey to the FHA Lender what will and must happen for both transactions to close.
The big key to getting a FHA Lender to consider this type of Nike Womens Pullover Sweatshirt transaction is if they understand the deal, know all of the moving parts, and everything has been disclosed.
I had a Fix n Flip I was trying to sell not too long ago. I had three FHA buyers fail to close where two were using their credit cards to buy crap for their new home and their credit scores dropped too low and another who could not come up with enough money to close.
Simultaneous Closing help with FHA end buyer
Unfortunately, they all FHA buyers, and FHA lenders will not allow a B C transaction without the seller (B) being on title the day of closing. Apparently, FHA will not even order an appraisal or take a mortgage app from the end buyer unless that is the case.
This is my first short sale, and I representing the investor Nike Dri Fit T Shirt Full Sleeve
Has anyone successfully completed a short sale with an FHA buyer? Thank you!
The bank has done the BPO and verbally approved a price. My investor is almost on board with that. I listed the house for him and we gotten several acceptable offers from end buyers.
can get all of this to happen and get everyone to the table, then it "might" be possible.
Edited Jun 26 2010, 11:43 by Scott Hubbard
2) Moving parts: All steps in both of the transactions must be made clear.
Originally posted by Aly L:Has anyone successfully completed a short sale with an FHA buyer? Thank you!
in an A B, B C transaction, the investor being B.
company re: deed. I was told something similar today by a short sale specialist. I look into that further.
Chances are, if your attracting only FHA buyer then your price is too high.
Lesson here is FHA buyer are here today and gone tomorrow. They are the most fickle and least educated of buyers. The risk is too great to close and carry for an FHA buyer.
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If you Nike Jackets Basketball
1) Understand the deal: You will need to be able for everyone to convey what is going to transpire.
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