
Yes, The Seller Can Get a New Loan
One of the questions I see asked over and over on the REI newsgroups is “Can the seller get another loan?” This is a great question because it so often is one of the objections raised by a seller when a creative offer is being discussed.
The short answer is “yes”. Only in rare situations would a seller not be able to qualify for another loan. This, of course, assumes the seller would typically qualify if they were not going to leave their loan behind. Let’s explore explanations that can be used with the seller.
Straight Rental
If the seller doesn’t sell the house and plans to move anyway, the seller will be forced to either lose the property to foreclosure or lease the property out soon.
Yes, there are other solutions, but this is what the typical motivated seller sees as their options by the time they jump on …