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Updated over 9 years ago on . Most recent reply

Pete McPherson's profile image
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Pete McPherson
  • from Rome, Georgia
  • Member since Nov 6, 2015
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Pete McPherson's profile image
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Pete McPherson
  • from Rome, Georgia
  • Member since Nov 6, 2015
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Pete McPherson
  • Rome, GA
6
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20
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Private Lending & Conventional Mortgage Advice

First deal - when to make offer vs. financing?

Pete McPherson
  • Rome, GA
Posted

Thinking about submitting a lowball offer on a property, though I haven't spoken to anyone about financing.

At what point in this process should I be talking to a bank (I think a normal bank loan/mortgage would be my best option)...and exactly how far do I need to go in that process BEFORE I submit an offer?

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George Hermann's profile image
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George Hermann
  • Real Estate Agent
  • from Bronx, NY
  • Member since May 22, 2015
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George Hermann
  • Real Estate Agent
  • from Bronx, NY
  • Member since May 22, 2015
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George Hermann
  • Real Estate Agent
  • Bronx, NY
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George Hermann
  • Real Estate Agent
  • Bronx, NY
Replied

Well, here in New York you have to show proof of your ability to finance the deal along with your offer. I would not even look at an offer without it.

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