Help With Re-Selling REO
What is the best way to re-sell REO's.
I have been researching and shopping REO's near me and see quite a bit of equity in these properties.
I need some guidance...I plan to obtain a 100% investor loan and then re-sell the property by lease-option or, ideally, as a quick sell incentive, offfering some of the equity back to the buyer at closing to assist with their down payment and closing costs.
I am discussing the pre-pay penalty on the investor loan with the lender, weighing the options there.
What are the rules regarding an equity rebate back to the buyer at closing? How will the buyer's lender view this when approving their loan?
How would the rebate be processed at closing?
Also, if anyone knows a good lending broker who understands investing, please send them my way.
Thanks
[addsig]
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