ST Alpha - "More house issues.. maybe you all have some ideas.." (Reading a Post)

SlickerTalk
Search Archives
The Leaderboard
The FAQ

Down to Post

Backboards:

Posts: 157

More house issues.. maybe you all have some ideas..

Posted by colin (aka colinski) Mar 31 '14, 11:20

This property is 1 empty lot plus 1 lot with a single family house and a 2 story duplex.

I'm being told I'm not going to be able to find a lender because it's an odd property. They've asked met find comparable properties they could use to compare it against. They're saying an assessor wouldn't be able to assign value without comparable properties.

Multi-structure multi-family is very common in this area... why is it so difficult for these folks to clear this?

Responses:

80-100x rents -- nm - zeitgeist Mar 31, 12:53
*who* is telling you that you won't be able to find a lender? *who* is asking you to find comps? - Vibia Kincardine Mar 31, 11:25 9
- the mortgage broker (via her underwriting team). the mortgage broker (from her underwriting team) is asking for comps. -- nm - colin Mar 31, 11:32 8
  - Do you have a Realtor? -- nm - Spawn Lord Mar 31, 11:34 4
    - Yes. -- nm - colin Mar 31, 11:35 3
      - What do they say about it? -- nm - Spawn Lord Mar 31, 11:38 2
        
        Realtor is confused about the lending issue too. -- nm - colin Mar 31, 11:42 1
        
        Their job is to guide you. Not that they can control everything but they should be able to help you clarify and find comps. -- nm - Spawn Lord Mar 31, 11:44
  - Isn't that *their* job? Fire them and wind a new mortgage broker. -- nm - ty97 Mar 31, 11:33 2
    - should be, right? ugh, i don't know about all this stuff. bank said "no".. so now on a broker. -- nm - colin Mar 31, 11:34 1
      - well, i think in your case a broker could be very useful, just not the one you have. however, if you *can* find even one similar property that - Andie Mar 31, 11:43

Post a message top

More house issues.. maybe you all have some ideas..

Replies are disabled on threads older than 7 days.