How can I locate brokers who will work with 100% financing?

In Buying Property - Asked by Randy S. - Jun 25, 2009
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gloria f.
Owner/Investor
Seagoville, TX

the broker should lend his commision to the buyer for interest monthly payment.The seller
will refinance the loan for 94% and sell it by seller financing above 1/2 %monthly payment.
please let me know if broker can approve this offer

Jun 25, 2009
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Paul S.
Broker/Agent
Glendora, CA

Fairly easy as long as you have the "how do they get paid" hurdle handled. Depending on the level of work you might be able to do it for a consulting fee. If the property is listed the listing broker pays the selling broker in most cases (not all). However, if there is no money changing hands someone in the transaction would likely need to write a check. Again, depending on the level of involvement you may be able to get your questions answered for a consulting fee. pstoski@yahoo.com
Paul Sylvester, CCIM

Jun 25, 2009
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Paul S.
Broker/Agent
Glendora, CA

Gloria-where on earth are you going to be able to refi a commercial property for 94%? If that were possible how would one get around the "due on sale" clause that the loan will contain and will be triggered at sale??

Jun 25, 2009
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Leslie H. C.
Broker/Agent
Austin, TX

If you are looking to find a broker that will help you find properties with no money down, you should look for brokers that are new to the business and that have no experience.
An experience broker with a good track record and that has survived the business for 10 years or more will have a long list of qualified buyers with 30 to 50% available for a down payment. An experienced broker would not spend time chasing no money down deals. Those brokers that work the no money down deals will certainly be out of business in a short period of time.
Leslie H. Cox has been practicing commercial real estate for over 20 years and owns two commercial real estate companies in Texas.
Texas Apartment Brokers, LLC www.TexasAB.com
Cox Commercial Real Estate Advisors www.LHCox.com

Jun 29, 2009
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