Today I finally got approval on a short sale property. The funny thing is that is was the first property that I ever made an offer on. Months later it is my first excepted offer after some price negotiating. The house has foundation issues and I have an engineer coming over tomorrow to work up a plan. From there I will get a few quotes from foundation contractors. If the estimates are higher than I am comfortable with ($20k ish)I'll try to renegotiate or walk.
I made my offer with with a proof of funds from a transactional funding company, but I hope to have hard money at closing. I say hope because my main contact (who had two funding sources) is not returning any of my emails or phone calls. My secondary resource is doing the same. I'm going to keep pounding payment to see if there is any other hard money in Anchorage, AK.
I didn't write my contract eith and/or assignee (my first offer...my bad) but I did/will purchase it in my LLC name. I could always sell my LLC to someone from my buyer's list if the funding falls through. If it's meant to be it will. But in the mean time...I'll try to sway the odds in my favor!
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