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Greater Pittsburgh Area Real Estate Investors
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 Post subject: wholesaling
PostPosted: Sun Mar 28, 2010 2:55 pm 
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Joined: Fri Mar 19, 2010 3:42 pm
Posts: 10
When one is wholesaling a property to an investor, would you ask for some verification as to their ability to close or otherwise get involved in them working with a lender to ensure that they are going to close on your property?

Thanks for the help,
Julia


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 Post subject: Re: wholesaling
PostPosted: Sun Mar 28, 2010 5:45 pm 
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Joined: Wed Feb 13, 2008 9:12 pm
Posts: 6
Generally we ask for proof of funds (such as a bank statement), which is a standard request when dealing with cash deals.

Most investors will be doing a cash deal, though they may have gotten the cash from a bank loan or a line of credit. Wholesale deals are usually not contingent on bank financing, since the investor has figured that out on their own before hand.


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 Post subject: Re: wholesaling
PostPosted: Mon Mar 29, 2010 10:23 am 
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Joined: Fri Mar 19, 2010 3:42 pm
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Thanks much, Dan. Might you also ask for a deposit or eanest money from you buyer, or is that normally not done?


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 Post subject: Re: wholesaling
PostPosted: Thu Jul 29, 2010 12:46 pm 
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Joined: Thu Jul 29, 2010 4:03 am
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Julia, have you had any luck finding eager and reliable investors?


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