How do I get into contract without securing financing first?

[Mukul Lalchandani]

Hi BiggerPockets,

I have a great opportunity on a luxury condominium in New York City. It is a one bedroom that is asking $600/sqft, when doing the comps of recent sales in the building, the ARV is at $1100/sqft. The listing is represented by a broker, so I know they will want 10% as a downpayment. The problem is that 10% of $750,000 (the value of the home) is $75,000.

I want to secure financing for the property, but how do I do that unless I get in contract first? It is like the chicken and the egg, which one comes first?

Without the contract, I cannot find a lender, and without the lender I cannot get into contract.

What would you recommend I should do?