Info Needed
How can i get a property under contract before i even get the financing. Is it possible . And where can i get the financing to purchase the property if i have bad credit but possibly have a co-borrower with good credit . Thanks in advance
Simp 190,
I am a mortgage broker and all too often, people come to me with a purchase contract and have not yet been approved. If you are dealing with a realtor or a fsbo who knows anything, they will ask for a pre-approval letter. If it's a good deal and you have someone that has good credit who is willing to put their name on it, get him/her preapprove, it takes a simple phone call, and sign the contract before someone else does.
Find an attorney to do a double closing. Get someone to loan you $100K for a day. Offer to pay them $2K for it. That's a great return for them, and you can walk away with $28K.