If you find someone who is discounting their home, ask them what they were originally selling it for, and tell them you'll give them their asking price without discounting the home (or at least not that much) but only on the condition that they will seller finance.
If they object Ask why. When they tell you why...
If they say: "But we don't own it free and clear" -That doesn't matter. They can create an All Inclusive Trust Deed (A.I.T.D.) or what is also known as a "wrap". It's like a circle within a circle. And if they say "but there is a due on sale clause" then they can deed the property into a trust named the same as their last name then their trust can sell you the property and the bank would have a hard time having the legal grounds to call the loan. The banks have bigger fish to fry- if it isn't broken why fix it right? I would have a hard time believing that they would call a loan that's fine when they have so many foreclosures going on.
And if they say: "But we want cash, we don't want to wait for our money"
That's where I come in: I am an investor that buys these kind of loans.
And I show property sellers how to sell their house faster by discounting their well created promissory note instead of discounting the property.
If they have any questions they can call me 9-5 m-f PST
Why would he have a hard time? All he had to do was ask the listing agent (or email) to see if the sellers would consider VA offers, which I've done in the past. Some agents will respond, some will not. Most will say send in the offer accordingly and always submit the highest and best offer.
Also, there's certain guidelines that VA must abide (Min Property Requirements) and the agent needs to be aware of these items.
More than likely Yes, depending on the type of loan you get. Paint and cosmetic things like that are normal in todays REO market. FHA and VA loans could be problems with some loans. Most conventional loans will lend on pretty much everything. Hope this helps!!
If I can be of more assistance please contact me.