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Finance closing costs into conventional investor loan?
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Posted by: martin1g
02/04/2004, 01:26:30

Edit
Does anyone know how to creatively, but legitimately, finance buyer and seller closing costs into a conventional investor loan (paying Seller all cash)?

I'm getting a pretty house under contract at approximately 75 LTV in a hot neighborhood. It needs virtually no repairs. I have excellent credit, and
intend to fund the purchase price with an investor loan (no doc) very short term, just long enough to quick turn the property to a retail buyer (the realtor on my team can list for me at a discount). As part of the purchase and sale agreement, however, I agreed to cover both buyer and seller closing
costs (including transfer tax).

Do you know how I'd accomplish this both in terms of structuring my purchase and sale agreement, and also in terms of communicating instructions to my escrow
agent.

I'm only interested in the methods that are both COMPLETELY above-board and with full-disclosure to all parties. Want to do only what's ethical and legal.

Any advice is greatly appreciated!

Martin


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