I was assisting a Seller with the sell of their investment property. We went under contract quickly with a Buyer who was using a SBA loan to fund the deal. All was going well until the Sellers and I received the bombshell…the appraisal came back fine, but the lender determined that the property wasn’t the best fit for a SBA Loan. So just like that the deal was dead.
I asked the Seller if they wanted to wait on another Buyer or if they’d be open to doing owner financing if the numbers made sense. Since their primary goal was to liquidate the asset, they agreed to the latter.
I then reached out to the other agent, shared the Seller’s response, along with contact info for a new lender. The loan was approved with the Seller holding a small note and we were able to close.
In this I was able to test the Seller’s true motivation.