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Updated over 10 years ago on . Most recent reply
How do I get the bank to accept my short sale offer?
I want to make an offer on a short sale property, but I will be looking for a hard money lender or a business partner to bring on board to finance the deal. The problem is that the bank won't accept my contract offer without a "proof of funds" letter.
Is there a way to get around this? Any advice is appreciated.
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Wayne Brooks
#1 Foreclosures Contributor
#1 Foreclosures Contributor
- Real Estate Professional
- West Palm Beach, FL
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Wayne Brooks#1 Foreclosures Contributor
#1 Foreclosures Contributor
- Real Estate Professional
- West Palm Beach, FL
POF or a real preapproval from a lender. Banks aren't interested in wasting time on someone hoping to flip, or hoping to find financing later. Also, the listing agent/seller would be an idiot in accepting such an offer.