Updated over 4 years ago on . Most recent reply
Wholesale financing question
Hi Folks! I am in the beginning of my wholesale journey. I am marketing, contacting owners and found someone interested. I was offering a conventional loan with 20% down, a 10 day inspection window and a 30 day close. Buyer is highly motivated but after conversation said he will only consider cash offers.
my question is this: do most wholesalers make cash offers (even if they don’t have the cash) knowing that if they can’t assign the contract they will just lose the deposit or can amend the offer later to close with financing? Or do you only present offers that you can really back up? Also, what if the buyer asks for proof of funds but you don’t have the funds.