I finally have some buyers for my rehab. They told my real estate agent that they were pre approved which is true, and then they made an offer on the house for the full amount. Now keep in mind, this is a fairly inexpensive house, 65k. It was appraised for another deal that fell through for 71k. The problem is their financing is through some company in Cali, I am in Michigan, and its 90% with the seller, me, carrying 10%. At this point that is out of the question. He is manager at Wal Mart for the last three years and makes enough money, but credit is not good, I believe around 545. Can anyone out there help me find someone to loan them the money? They don’t really have any out of pocket money, but they are a great young couple with kids and I would love to get them in the house, and get me out of it, its killing me as it is. Thanks in advance.
Brandon