I am an investor, & have a SS property (getting ready to submit & start negotiating) a buyer with hard money to purchase at the end. I have access to hard money, but don't want to have to pay the fees associated with using it. Can I set this up to by pass me? Do I have to do a double closing or is there another way to handle this? Can I do any type of assignment w/o the lender knowing that I'll get cash and how much $? I have only done deals where I purchased, so I am a bit unfamiliar with how to structure with an immediate buyer.

For the purchase agreement that I will include with my ss package, would it be between the seller and my end buyer or seller and me? Maybe depends on if I double close or can sell directly to end buyer. Thanks.

This isn't the hard money lenders first rodeo. They make money by charging fees. If they lent free money all the time they would be out of business. Good luck trying to do that one without paying anything.

You might be much better off partnering wiht another cash investor so you can pull resources to purchase the whole thing wihtout hard money financing. Of course if you do get the agreement in writing and notarized and recorded.

cclark69 - there are several ways to do this. Probably the simplest if you already have the buyer is to have the purchase agreement from the owner to the end buyer, with the end buyer agreeing to pay you on the HUD at closing. The short selling lender is not going to care what is on the buyers side of a HUD. When sending in a HUD for short sale approval we don't even fill out the buyers side - they don't care.

But on the final HUD at closing just have the buyer pay your agreed upon amount at closing.

There is just no reason to make this harder than it needs to be and do a double closing.

This is true of course only if your end buyer is rock solid. If he were to disappear on you, you would then have a short sale approval in his name which you wouldn't be able to use.

Try a double close with flash funding instead of traditional hard money, their fees tend to be cheaper. Try coastal-funding.com or cashformyclosing.com

I am not affiliated with the above mentioned companies in any way.