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Using Hard Money

Posted on: Mon, 09/19/2011 - 21:36
Using Hard Money

Is there anything that would need to go into a purchase contract specifically for hard money, if you are planning on using hard money?

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Posted on: Tue, 09/20/2011 - 22:41 #1
Use Financing Contingency

I would still recommend using a financing contingency, in case the deal with the hard money falls through at the last minute. That will save you from losing your deposit. Don't put it as a cash offer if you don't have cash.

Hope that helps,

- Tom


Posted on: Tue, 09/20/2011 - 22:45 #2
Always have you escape clauses

Always have an escape clause in your contract even if you have ten million dollars in the bank and are investing with your own money.

As far as the hard money is concerned, you do not need to state in your purchase and sales agreement with the seller that "I am using hard money to purchase your home."

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