OfflineI have a end buyer at 475k. The bank has a 90 day deed restriction. Purchase price 440k. Anyone know of any 90 day transactional funding companies?
__________________
How do I get around 90 deed restriction
Posted on: Thu, 07/03/2014 - 16:28
The longest term I have seen with TF is 30 days and even some of the lenders have stopped doing THAT.
You may want to consider private money or hard money.
You might also consider buying in the name of an LLC and just selling the LLC. That way title doesn't change.
Karen
"You're never too old to be what you were meant to be!"
www.deangraziosi.com/real-estate-forums/investing-journals/59128/day-for...
"Shining Like a Star & Dancing on Sunshine"
"Shoot for the moon! Even if you fall short, you'll still land among the stars!"
buy in LLC, and have end buyer put up the funds; offer your buyer a 5K discount in lieu of paying for transactional funding...
Valerie
“And will you succeed? Yes indeed, yes indeed! Ninety-eight and three-quarters percent guaranteed!” ― Dr. Seuss
"I believe in angels, the kind that heaven sends; I am surrounded by angels, but I call them friends" - Unknown
My journal: http://www.deangraziosi.com/real-estate-forums/investing-journals/59110/...
as far as ETF for 90 days
http://besttransactionfunding.com/index.php?ref=reinvestor42
Mike
https://tvallc.isrefer.com/go/RehabLite/renvestr/ Free tools
If the deed restriction is 90 days it's usually a Fannie Mae. You would have to purchase the property with as a corporation,(LLC, S-Corp, etc.) & then sell the corporation; the property would be an asset of the corp. so there would be no transfer of deed.
Thank you for all the advice.
http://besttransactionfunding.com/index.php?ref=reinvestor42
Best is one of the TF Companies who has "Temporarily Suspended" their extended funding.
Karen
"You're never too old to be what you were meant to be!"
www.deangraziosi.com/real-estate-forums/investing-journals/59128/day-for...
"Shining Like a Star & Dancing on Sunshine"
"Shoot for the moon! Even if you fall short, you'll still land among the stars!"
This is what the "My Bookmarks" option is for
http://www.deangraziosi.com/real-estate-forums/contracts-and-offers/1490...
Less Talking, More Doing
Create an LLC and sell it to your buyer. That would be he best way to get around that 90 deed restriction.
Reynold Orozco
Would I sell it at closing or how does this take place?
Excellent advice here! I say private money:)
"Don't tell me I can't, Tell me how I can."