Purchase Contract Language to elect Cash or HML
Hello all,
We have been purchasing REO properties using our own funds as fix and flips for the past year. Now, as we have expanded our business to buy multiple properties at one time, we are utilizing hard money lenders.
My question is what language do we include in the purchase contract offer that will allow us the option of pursuing a hard money loan, but would still close deal the as an all cash deal if one cannot be obtained.