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Transactional funding question

Posted on: Thu, 07/11/2013 - 21:40
Transactional funding question

If you are putting in offers on homes that you plan to double close using a transactional funding company, do you write your offers as "cash" offers or as pre approved? Just want to make sure I do this correct.

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Posted on: Fri, 07/12/2013 - 00:22 #1
Transactional funding question

You write it as Cash Offer.

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Donald Myers


Posted on: Fri, 07/12/2013 - 04:13 #2
Thanks!

Thanks!


Posted on: Fri, 07/12/2013 - 20:46 #3
I would say not cash

"Cash" offer means you have access to liquid cash. Anything else and you could lose your earnest money deposit. What if you go to close and the transactional funding company is out of business? Or they suddenly don't like the deal, or there's some other hiccup with the close? Cash is cash.

- Tom


Posted on: Fri, 07/12/2013 - 23:43 #4
have

buyers lined up w/contract and non refundable deposit

The TF company will not go thru if escrow in NOT made 24-48 hrs in advance of close

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Mike
https://tvallc.isrefer.com/go/RehabLite/renvestr/ Free tools


Posted on: Sat, 07/13/2013 - 00:56 #5
I understand that you want

I understand that you want to have buyers lined up and have then put a non refundable deposit in escrow before close, but that doesn't explain whether or not your offer is a "cash" offer considering you can't have a buyer open escrow for a property you have no contract for.