How to Get the Most Bang for Your Buck With Hard Money Loans TexasNovember 18, 2015
Texas Hard Money Lenders Answer Your Top 3 Hard Money Questions!November 19, 2015
During a real estate sale, there are many issues that can come up that will delay or even cancel the closing of a property. If you are an investor looking to purchase an income property, this can be very disheartening. You can help the closing process go more smoothly by getting a hard money loan from Texas hard money lenders.
There are many, many issues that can come up during the escrow period that can cause a sale to be delayed or even fall through. Everything from seller’s remorse, to a bad inspection, to an inability to secure financing can make a property sale a no go. If you are a new real estate investor, it is easy to get discouraged if a property falls through. However, with Texas hard money lenders
you can take some control of the situation and make your deal less likely to fall flat.
Here are a few common reasons a real estate transaction fails to close and how Texas hard money lenders can make it less likely to happen.
- A Bad Home Inspection: Many real estate deals end up dead in the water due to a bad home inspection. Sellers won’t fix major issues or buyers find that there is simply more to do than they can handle. With Texas hard money loans from Texas hard money lenders, you can usually be assured that even with a bad inspection, the property will still be yours. You can cross collateralize with other assets to borrow more money if there are more issues than you anticipated. Also, since you are planning to rehab the property anyway, you are less likely to have to ask for repairs.
- Seller’s Remorse: Often, sellers will have second thoughts about selling their home. With the long, drawn out financing and closing process of most traditional lenders, the seller has a lot of time to get cold feet. With a hard money loan from Texas hard money lenders, the timeline is accelerated and closing often only takes a matter of weeks. Less time to reminisce means less time to pull out of the deal and a higher likelihood that you will close.
- Financing Falls Through: Sometimes a buyer’s financing will fall through due to a blip on a
credit report or income issue discovered during underwriting. Luckily, with Texas hard money lenders, your financing is contingent on the value of the property you are buying, not your personal finances so you don’t have to worry about this issues.
Using experienced Texas hard money lenders
to fund your investment property can help you avoid some of the pitfalls that lead to a deal falling through. When you are ready to get that real estate investment going, call a hard money lender to get started.
NMLS 1057378 | AZMB 0923961 | MLO 1057378
23335 N 18th Drive Suite 120
Phoenix AZ 85027
About the author: Dennis has been working in the real estate industry in some capacity for the last 40 years. He purchased his first property when he was just 18 years old. He quickly learned about the amazing investment opportunities provided by trust deed investing and hard money loans. His desire to help others make money in real estate investing led him to specialize in alternative funding for real estate investors who may have trouble getting a traditional bank loan. Dennis is passionate about alternative funding sources and sharing his knowledge with others to help make their dreams come true.
Dennis has been married to his wonderful wife for 38 years. They have 2 beautiful daughters 4 amazing grandchildren. Dennis has been an Arizona resident for the past 32 years.