Would The Bank Allow This...

If they say no, you can do 1 of 2 things.

1. Act as a bird-dog and charge the buyer a finder's fee if they purchase it.

2. Do a double closing. Use a transactional lender like www.coastal-funding.com to close on the property yourself and turn right around and sell the property to your buyer on the same day.

Wish you well.

It appears that you are trying to do double closings! I would go and find a title company that will be able to help you with these types of deals and go to coastal-funding.com to read about how easy their system is from providing proof of funds to them helping you find title companies to close your deals if your not able to! I hope that this information helps!

This is exactly what we are trying to do with a property held by a bank or loan guarantor like Freddie Mac.

The coastal funding idea is very heldful.

My partner and I are trying to match a tenant buyer with a lender-held property.

Jim and Alice
HomeStar2020.com

What if the "end buyer" wants to do a lease with option to buy?

Will Coastal still get involved?

Alice and Jim

It sounds as what you are describing might be construed as acting like a realtor , Since you have no ownership interest in the property, Which I believe would be illegal!

Maybe some of of DGs more knowledgable members could help us out?

Hector

Sure the banks may say no but why?

Banks do not trust you or your buyers. Can you imagine how many times they may hear this? They want to in their minds qualify the actual buyer. When we do assignments they cannot do this very well at all.

Smaller banks have the highest chance to do this but say Key, Wells Fargo, Chase and other you are pretty sure you will not find the time of day with them.

The other coaches have given some ideas.

You may also add this paragraph somewhere in your contract and this seems to be working well:
"Buyer shall have the right to assign this contract to the buyers LLC of their choosing"

The option would be to assign it to your LLC then sell the LLC to the investor.

You can not do a lease option when using coastal funding, because they will not hold the loan. They need an end buyer to buy the property to close the deal.

In the first contract you put into the bank, you want the opportunity to show the property to potential clients. One thing you can look at is an option contract to use to make offers to banks. The options contract will disclose that you plan on marketing the property and selling it for a profit. If you go to to downloads at coastal funding you can print out the option contract and use it to make offers. A title company that specilizes in back to back closing is old school title, you can look them upon the internet. As long as everything is disclosed on what you are doing it is not illegal.