Hi,
I was wanting to know as a loan officer who runs across motivated buyers, how I could possibly get with sellers and offer to sell their home for a lower price and sell it to the motivated buyer and make a buck. I don’t have my real estate license. I want to make sure, if this is possible, that I am not breaking any laws as I would be the one providing financing for the buyer through one of several lenders. Just to make sure I am clear on what I would like to do here is an example, let me know what you think. Home for sale -asking price= $105k. I contact seller and some how put a contract together for 100k, the seller agrees. I find them a buyer if they don’t find one first, and sell it for top appraisal, lets say 110k. How would I do this if it is possible? And since I will be the loan officer for the buyer is there anything I should be looking out for?
Thank you for your time,
Anthony