RECENT TRANSACTIONS
Consistently creating win/win/win outcomes for all parties
Myrtle Beach, South Carolina 29579
Seller Story
These sellers were great to work with! They were buying a brand new house and thought they needed to sell this house to qualify from a debt-to-income perspective. We were able to connect with their lender and lease the property from them to offset some of their expenses related to this house. The sellers were then able to qualify for their new house and were able to buy a beautiful home in a great community.
Transaction Details
Close of Escrow: October 3, 2023
Purchase Price: $353,145
Cash to Seller: $10,000
Agent’s Commission: $10,944
Mortgage Balance: $343,245
Interest Rate: 5.5%
Type of Loan: Conventional
Days on Market: 75 days
Rental Rate: $2,200
Menifee, California 92584
Seller Story
The sellers for this home were being transferred to the 29 Palms military base and they could no longer carry two mortgages. This property wasn’t listed for very long, but the agent involved knew that the sellers would be required to bring cash to closing. They immediately jumped on our offer and we took over a unicorn loan… 2.375%! Now, the agent wants to know how we do what we do.
Transaction Details
Close of Escrow: September 29, 2023
Purchase Price: $567,782
Cash to Seller: $5,000
Agent’s Commission: $17,033
Mortgage Balance: $562,782
Interest Rate: 2.375%
Type of Loan: VA
Days on Market: 56
Rental Rate: $2,900
San Antonio, Texas 78251
Seller Story
The sellers were planning a move to Missouri and their biggest concern was the ability to use their VA entitlement for the next purchase. The agent, in fact, was convinced that they couldn’t sell the house with us taking over the payments and still be able to use their entitlement. We put both the agent and the seller in contact with our lender to show them how it will work. The sellers are holding a seller carryback note of $38,000 at 0% interest for 30 years.
Transaction Details
Close of Escrow: September 21, 2023
Purchase Price: $342,533
Cash to Seller: $15,000
Agent’s Commission: $10,348
Mortgage Balance: $289,533
Interest Rate: 2.75%
Type of Loan: VA
Days on Market: 51 days
Rental Rate: $2,600
Victorville, California 92395
Seller Story
With full transparency in mind, we usually purchase a home for financial gain, but there are times when we are able to change the life of a seller… or at least what life is remaining. This seller has terminal cancer and needed cash from the sale of her home to pay for her medical care. It didn’t make sense for us to give cash at close based on the numbers and we will probably lose money on this property, but that isn’t the point with this one.
Transaction Details
Close of Escrow: September 15, 2023
Purchase Price: $337,535
Cash to Seller: $8,000
Agent’s Commission: $10,046
Mortgage Balance: $329,535
Interest Rate: 5.25%
Type of Loan: FHA
Days on Market: 94
Rental Rate: $1,700
Graniteville, South Carolina 29829
Seller Story
“Why would anyone do something like this?!!!” That’s what the seller said before signing the purchase agreement. Now, we have another satisfied seller. We offered cash to the seller and asked for a seller carryback note of $25,000 at 0% interest, which she agreed to. The seller’s primary concern was her ability to purchase her next home, which we showed her how to accomplish through the correct lender.
Transaction Details
Close of Escrow: September 11, 2023
Purchase Price: $327,250
Cash to Seller: $10,000
Agent’s Commission: $9,817
Mortgage Balance: $292,250
Interest Rate: 3%
Type of Loan: FHA
Days on Market: 86 days
Rental Rate: $2,500
DeLand, Florida 32724
Seller Story
The property was on the market for 119 days without any serious offers and the sellers were under contract on a new house. They needed to close on the new home, but they couldn’t afford to carry two mortgages and they were also concerned about their VA entitlement. We showed them how they could purchase their next home with a VA loan, saved their deposit on the new house and gave them more cash at closing than they would receive with a traditional sale.
Transaction Details
Close of Escrow: August 31, 2023
Purchase Price: $361.701
Cash to Seller: $3,500
Agent’s Commission: $9,042
Mortgage Balance: $358,201
Interest Rate: 5.5%
PITI Payment: $2,508
Type of Loan: VA
Rental Rate: $2,500
Birmingham, Alabama 35215
Seller Story
This property was listed on the market twice in the previous 13 months and had been under contract three times, but unfortunately, never sold. The seller was steadfast with his price because of the high mortgage balance relative to the asking price, he would be forced to bring cash to close the transaction. We were able to offer him cash at close, instead of having to pay to close. In addition, we paid all of the closing costs and the agent’s commission.
Transaction Details
Close of Escrow: August 31, 2023
Purchase Price: $121,332
Cash to Seller: $5,000
Agent’s Commission: $3,533
Mortgage Balance: $115,663
Interest Rate: 2.99%
Type of Loan: FHA
Days on Market: 94 days
Rental Rate: $1,100
Madisonville, Louisiana 70447
Seller Story
This seller listed his property in June and accepted a contingent offer shortly after. The buyer was unable to perform and the property sat for another month and a half. The seller was experiencing some health issues and needed to move into assisted living and needed to save money to pay for service. We took over the mortgage, paid the arrears and the agent gave part of his commission to the seller.
Transaction Details
Close of Escrow: August 31, 2023
Purchase Price: $349,200
Arrears: $7,302
Agent’s Commission: $8,340
Mortgage Balance: $349,021
Interest Rate: 3.375%
Type of Loan: VA
Days on Market: 85
Rental Rate: $2,400
Schertz, Texas 78108
Seller Story
The agent on this transaction was experiencing an issue with competition from new builds in the area priced slightly above the asking price for the subject property. The sellers, who were moving to Romania, were also aware that after commissions and closing costs, they would be required to bring cash to close. Re-Vitalized Properties covered the agent’s commission and closing costs, gave the sellers $15,000 and assumed a reverse osmosis lien.
Transaction Details
Close of Escrow: August 8, 2023
Purchase Price: $387,111
Cash to Seller: $15,000
Agent’s Commission: $11,908
Mortgage Balance: $372,111
Interest Rate: 4.25%
Type of Loan: VA
Days on Market: 59 days
Rental Rate: $2,600
Ocean Springs, Mississippi 39564
Seller Story
The disabled veteran seller recentl divorced and could not afford his payments for the previous 12 months. The structure we proposed was one where he was able to walk away with enough money to get an apartment and he seller financed a little more than $18,000 at 0% interest to us. When we first spoke with the agent, she wasn’t confident that the property would sell and as a result, she would not receive a commission. We made sure to pay her full commission.
Transaction Details
Close of Escrow: August 17, 2023
Purchase Price: $367,513
Arrears: $24,241
Agent’s Commission: $10,920
Mortgage Balance: $344,000
Interest Rate: 3.125%
Type of Loan: VA
Days on Market: 80 days
Rental Rate: $2,100
San Antonio, Texas 78242
Seller Story
The sellers were 5 months behind on their payments and also had a COVID-related forbearance. Their primary concern was the potential impact this would have on their debt-to-income ratio. We were able to show them how they can purchase another house in the future. An interesting note on this transaction is that the sellers notified the bank of the sale of the property so we put together a management agreement and will file the deed in the future to prevent the due-on-sale clause being called.
Transaction Details
Close of Escrow: August 3, 2023
Purchase Price: $220,000
Arrears: $7,288
Agent’s Commission: $6,600
Mortgage Balance: $218,000
Interest Rate: 3.5%
Type of Loan: FHA
Days on Market: 54
Rental Rate: $1,700
