Updated over 4 years ago on . Most recent reply
wholesaling POF question
I made an offer on an on market property, realtor asked for POF, I submitted a generic one from a website. Agent asked me what my loan term would be, because I'm using a hard money loan..financing info needs to be filled out even though my offer is still like cash. What is the answer here? I intend to wholesale the deal, so won't be spending money on it. Thanks!
Most Popular Reply
The answer is that you are submitting an offer that is contingent on hard money financing, not a cash offer.
Be up front with the agent about your intention to wholesale this property and to not spend "any money on it". Otherwise you're wasting everyone's time and effort.