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Updated about 7 years ago on . Most recent reply
Structuring an offer
Hello!
So I have found a for sale by owner deal that I would like to make a cash offer on. How do I structure the offer so it gives me time for contractors to come in and give me a quote on the rehab costs? How do you all structure a cash offer? This is my first cash offer that's why I am asking. I also don't have figured out how I am going to pay for it yet, but I'd like to at least get it under contract and have time to find the funds from a PML.
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#3 Guru, Book, & Course Reviews Contributor
- Investor, Entrepreneur, Educator
- Springfield, MO
Make an appointment to see the property with a contractor, get the estimate and then make an offer!
A "cash offer" is simply an offer without any financing contingency.
OPM is fine, so long as they are properly secured, 100% is not properly secured and falls into predatory lending issues. You're doing the deal so I suggest putting in 20% of your money and avoid the predatory matters.
Real estate is not personal property and dealing in RE is not the same as personal property.
Trying to follow gurus or TV shows is not the road to take. Good luck :)