If I have an aquisition associate beat the bank down on a foreclosure then this associate assigns me the contract and I then do rehab work on a bridge loan what issues am I likely to encounter when I make my exit. I am new so please bear with me. Thanks
Howdy Mark7:
It is getting hard to be able contracts on bank owned properties. Why do you need an associate do the beating down?
One issue that you may encounter if title seasoning. A lot of lenders will not loan on a property where the current owner has not owned it but a few months. This is something new and came about because of fraud where one investor would deed over to another with fake liens and fake appraisals or whatever and borrow more than the property was worth and then walk away.
LOL