Posted by Randy (SD) on September 21, 2004 at 09:12:00:
Technically no. You’re skirting the legal issue of an “arms length transaction”. I personally know of one such transaction where the listing agent on a VA foreclosure was selling to his wife, they were unable to secure financing due to the relationship of the listing/selling agent and the buyer (even though she retained her maiden name in marriage). It should be noted that in this particular case they were buying at about 75% LTV with stellar credit and 20% down payment… Multiple lenders declined. If you’re using “private sources” for financing or a portfolio lender you’re chances increase substantially.