I have the option of purchasing several condo units that are vacant. What would be your suggestion on acquiring the deed from the banks. I am in a position to make offer have offer accepted and want to flip to larger investor at a higher selling price. Banks want to be able to go after borrower for fraud
Any help is appreciated
Why are these deals? What are the numbers? Do you already have larger investors willing to pay your price? Why haven’t larger investors already bought the properties if they’re priced right?
These are just a few questions that immediately pop into my head. There are legitimate answers for each that would still indicate you’re onto something here, but it’s not possible to make any suggestions without more details.
Also, typically, it’s been my limited experience that larger banks won’t allow and/or approve any sort of assignment. I suppose portfolio lenders might, but I don’t know for sure.
buy them by taking over payments (subject to the existing liens) and putting the titles into trust.