How to buy STR furniture while under contract?

[Danny Ch]

We have budgeted 15k to fully furnish our STR, and seller is letting us furnish as soon as we have a clear to close from broker (about 10 days from closing date). However, mortgage agent is advising against any large purchases and does not suggest we dish out 15k right now for furniture, how else have people funded their furniture while under contract?

[JD Martin]

Don't do anything until you close. Things can go wrong all the way up to the day you are sitting in the office signing closing documents. Then you'll have 15k worth of furniture that needs to be returned or sold at a discount. 

Yes, you will lose 2 or 3 weeks or even a month. So what? This should be a long-term play. How do you know for 100% certainty that the place is instantly ready to rent out anyway without some needed repairs or maintenance? You usually don't find out all of that info until you actually have the house, even with the best inspectors. Even crazier would be loading up someone else's house (it's their house until the closing docs are signed and money delivered) with furniture that you paid for, then having the deal go south and the seller walking off with your furniture. 

Your mortgage agent is right, and not just because big purchases might sink your deal. Wait for a sure thing and close first.