How to describe hard money lending in a contract

[Doron Rice]

Hi,

Im making an offer on a property that I want to flip using hard money lending and im not sure what to put in the financing chapter of the conract. is it a sort of mortgage? is it cash? if its mortgage should i add a mortgage contingency?

Thanks,

Doron

[Andrew Postell]

@Doron Rice this is a common question. This is a mortgage and there should be some type of mention that financing is being used.  You can use the third party financing addendum if you would like but i would suggest making sure that the seller understands that you can close quicker than normal loans.  Maybe include it in your offer cover letter.  Hope this helps!