Bellevue, WA
$409,000

A real estate agent had a buyer that was unsuccessful in a short sale purchase.  The week of the auction the real estate agent referred the buyer to Liberty Capital as they knew about Liberty’s Owner Occupied auction loan product.  Liberty Capital was able to immediately qualify the borrower and get the value of the property.  A Liberty Capital representative went to the Trustee foreclosure auction with the borrower and successfully outbid all the other buyers since the buyer was moving in and not buying as an investment.  They purchased the property for $499k with it being estimated to be worth $600k.  The Liberty Capital auction loan was paid off 30 days later with a 30 year fixed mortgage.  The real estate agent got paid their commission and Liberty Capital loaned the borrower money giving him the ability to purchase the property walking into over $100k of equity by buying the property at the foreclosure auction.

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