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Home › Forums › Closed Forums › Buying and Selling RE › Interesting CL post…thoughts?

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  • September 30, 2009 at 7:30 PM #463228
    sdduuuude
    Participant

    Seems like there is a way to do this to limit risk.

    First, make sure he is pre-qualified with a lender of your choosing. Second, get all his cash as a non-refundable down-payment. Third, charge him a solid amount of money for the deal. Be prepared to flip it if he backs out.

    September 30, 2009 at 8:09 PM #463039
    urbanrealtor
    Participant

    Of course there is the issue that FHA loans require that the seller have title for 90 days.

    September 30, 2009 at 8:09 PM #462428
    urbanrealtor
    Participant

    Of course there is the issue that FHA loans require that the seller have title for 90 days.

    September 30, 2009 at 8:09 PM #462966
    urbanrealtor
    Participant

    Of course there is the issue that FHA loans require that the seller have title for 90 days.

    September 30, 2009 at 8:09 PM #463243
    urbanrealtor
    Participant

    Of course there is the issue that FHA loans require that the seller have title for 90 days.

    September 30, 2009 at 8:09 PM #462621
    urbanrealtor
    Participant

    Of course there is the issue that FHA loans require that the seller have title for 90 days.

    September 30, 2009 at 9:03 PM #462986
    moneymaker
    Participant

    Sounds to me like he is trying to sell his sisters house for her. Makes absolutely no sense to me. Creative, but a scam non the less, possibly of Nigerian origin.

    September 30, 2009 at 9:03 PM #463059
    moneymaker
    Participant

    Sounds to me like he is trying to sell his sisters house for her. Makes absolutely no sense to me. Creative, but a scam non the less, possibly of Nigerian origin.

    September 30, 2009 at 9:03 PM #462448
    moneymaker
    Participant

    Sounds to me like he is trying to sell his sisters house for her. Makes absolutely no sense to me. Creative, but a scam non the less, possibly of Nigerian origin.

    September 30, 2009 at 9:03 PM #463263
    moneymaker
    Participant

    Sounds to me like he is trying to sell his sisters house for her. Makes absolutely no sense to me. Creative, but a scam non the less, possibly of Nigerian origin.

    September 30, 2009 at 9:03 PM #462641
    moneymaker
    Participant

    Sounds to me like he is trying to sell his sisters house for her. Makes absolutely no sense to me. Creative, but a scam non the less, possibly of Nigerian origin.

    September 30, 2009 at 10:28 PM #462687
    oxfordrick
    Participant

    Guy sounds like a lot of Piggs who feel shortchanged by a process that favors investors who can turn on a dime over would be homeowners who must attempt to jump through hoops.

    So nothing wrong with an investor doing his DD, buying the home at appropriate price and lease/optioning to this guy until he can qualify for a loan.

    September 30, 2009 at 10:28 PM #463309
    oxfordrick
    Participant

    Guy sounds like a lot of Piggs who feel shortchanged by a process that favors investors who can turn on a dime over would be homeowners who must attempt to jump through hoops.

    So nothing wrong with an investor doing his DD, buying the home at appropriate price and lease/optioning to this guy until he can qualify for a loan.

    September 30, 2009 at 10:28 PM #463105
    oxfordrick
    Participant

    Guy sounds like a lot of Piggs who feel shortchanged by a process that favors investors who can turn on a dime over would be homeowners who must attempt to jump through hoops.

    So nothing wrong with an investor doing his DD, buying the home at appropriate price and lease/optioning to this guy until he can qualify for a loan.

    September 30, 2009 at 10:28 PM #463032
    oxfordrick
    Participant

    Guy sounds like a lot of Piggs who feel shortchanged by a process that favors investors who can turn on a dime over would be homeowners who must attempt to jump through hoops.

    So nothing wrong with an investor doing his DD, buying the home at appropriate price and lease/optioning to this guy until he can qualify for a loan.

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