We also provide investors with private mortgage lending opportunities.
Benson Mortgages offers investors two types of real estate investment opportunities: the purchase and reassignments of real estate contracts and second mortgage investing through a private loan.
Purchases and Reassignments
A reassignment is an agreement to assume a buyer's (assignor) purchase and sales contract with a developer before a condominium building is registered or with a builder before a residential lot and/ or home is closed. It is frequently done when the assignor already has occupancy of the property and in most cases can not advertise the unit on the local Member Listing Service (MLS).
We originate, underwrite and administer second mortgage loans throughout the term of the mortgage, which allows Benson to create attractive investment opportunities for our investors.
In an effort to protect investors, Benson carries out due diligence by:
- Conducting background & credit checks on the borrower
- Sitting down with the borrower face-to-face
- Commissioning of independent appraisals of the property
- Visiting the property for an on siteonsite inspection
- Proper LTV analysis of the deal