“I Love the Challenges”
I have been reading your blogs on Linkedin for a few months and my sense is that you like to take on challenges. I am a Realtor in New York state and have listed a property that literally has no comparable sales. The main house has 18,000 square feet of living space, there are 2 other single family homes on the property as well and the best part there are 33 acres of land. The property is listed at 1.3 million dollars.
I have buyers for the property however who is willing to pay the price and put down $300,000 or possibly more. Every bank that I speak to gives me on excuse after another as to why they can’t do the loan. If you think you have a shot at doing something I will put the client in touch with you.
Not the largest home I have mortgaged. I handled a 28,000 sq. ft. home with 17 bedrooms and 14 bathrooms. 3 additional homes were on the property and there were 148 acres of land. Comparable sales were a problem for sure, but most importantly we got the mortgage done.
In the insurance business there are certain insurance companies that will insure just about anything as they specialize in the more difficult coverages.
The mortgage business has the same thing, lenders that will lend on more difficult properties. We are fortunate to work with a few such lenders.