Canadian Looking To Help American Buyers

Comments(8)

• 
  loanwizard24th February, 2004

  Do you have the resources where you don't need the cash for the land at the close? If you don't need the cash up front, or only some, How about setting up a WLOC (working line of credit) in your name and becoming the lender. You would get premium pricing from this type buyer, the security of the land if they don't pay, a rate spread (additional income) plus you could build in a buyout date, or specific time period where they must cash you out. There are several possiblilities I suppose. I hope this helps.
  
  Good Luck,
  Shawn(OH)

• 
  littlemarauder24th February, 2004

  Thanks Shawn,
  An example of situation is right now i have a person interested in one of our properties but can only come up with a 10% downpayment and wants to finance the rest. I am not in a position to help with financing plus it would be better if he could find someone in the States to deal with. He is from Ohio as well and claim to have good credit.
  
  Thanks
  
  Aaron

• 
  loanwizard24th February, 2004

  You might tell him about this site, where he can use the lenders tab, or ask if he's used any online lending sources. Could you carry a second for the other 10% or 20% or whatever he needs? How much land and money are we talking?
  
  Good Luck,
  Shawn(OH)

• 
  pmatheson124th February, 2004

  How about you carrying back and then Selling the Note (or a part of it) to an Investor?

• 
  littlemarauder25th February, 2004

  Thanks for the information I am just gettng to the office i will review it and respond.

• 
  littlemarauder25th February, 2004

  I realise that this forum may not be the place to ask but what i need is a private lender or company who would be willing to finance Raw land for Americans buying Canadian property. I looked through the lenders forum but it seems to be tailored to individual states.
  
  Thanks

• 
  JohnMerchant25th February, 2004

  You might find the answer & a CAN source of money by talking to a commercial RE agent in CAN.
  
  Some few years back there was a big monthly magazine/newspaper being published by/for the CAN RE industry with lots of articles & ads by agents all over CAN. Can't recall name but most any big CAN RE brokerage would have this on hand if it's still being published.
  
  As I recall it was being published in B.C., maybe Vancouver based.
  
  The RE pro who makes his/her living selling CAN land is going to be very familiar with your question and have some answers...and if you can make some kind of deal to feed each other business, that would help to grease the wheels.

• 
  littlemarauder25th February, 2004

  Thank you for the reply but my partner has been in the business for 30+ years and has never seen such a large amount of people looking for financing. We just want to provide a source that these people can work with. We have the mechanics on how to work a financing deal in other to protect the lender in case of default.
  
  Thanks
  
  Aaron