Should we put bids in on properties first before we commit to an investor or visa versa?
Sorry, I don't understand. What do you mean "commit to an investor"?
NO, We were just curious as to wether or not we should place bids first when were not sure if we have the funding or not, or do we wait and collect the funding first than place the offers? After tonite, we discovered that it depends on the lender, the terms and the self commitment on our part. Thank you for responding to our question. We discovered our own answer.... We got funded tonite, no questions asked other than did we agree to the terms? Thank you again.
To answer your question, I get financing lined up BEFORE making an offer on a place, this way I can act quickly when I find a good deal.
In many instances you will be required to submit a proof of funds with your offer. Thus I recommend getting financing lined up before submitting an offer.
All of my houses want proof of funds within a day if not sooner of a contract. Therefore I have proof of fund before I put an offer on the house. The only one where I find the house first is a short sale. Just because they take so long!
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