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Tevin Swain
  • Philadelphia, PA
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Transactional Funding and proof of Funds

Tevin Swain
  • Philadelphia, PA
Posted Oct 30 2014, 19:28

Good evening everyone I am very interested in making a few offers on HUD properties and REO properties. I have a few questions and hopefully someone can help me. Thank you for your time.

#1 If i am making and all cash offer (in hopes of flipping it to an End Buyer) will i need a pre-qualification or Pre-appoval letter? My plan is to use Transactional Funding.

#2 If i use Transactional funding will the funds need to actually need to be in my personal bank account? and will they check my personal Bank statements?

#3 Is it a good idea to try and get a pre-approval letter or pre-qualification letter from a Hard money lender?Or will i have to do this anyway?

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