REO PROPERTY

I found a single family house that seems to be a really good deal that is owned by a bank. How can I tie up this property under contract to give myself time to find a buyer to flip this deal to?

I was thinking about offering $10 earnest money and then stating "subject to my parnters approval" but this will not work with a bank. Also, I don't have the cash or the help of a private investor.

Comments(3)

  • 64Ford22nd September, 2003

    You can use a contigency such as "contingent upon inspection of property by partner by xx/xx/03".
    However, I don't know how to get aroudn ght deposit, as banks are picky on this from my experience.
    Can you seek out an investor with cash...quickly?

  • GFous22nd September, 2003

    Didn't I see this post somewhere else?
    [addsig]

  • Yhagood22nd September, 2003

    I somehow posted iin two forums. It's also in the wholesaling form but I meant to post another question. I'm asking so many questions today.

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