Having a problem closing fast enough.

[Derrick Gordon]

I have been spending a lot of time searching the web for deals in Atlanta. I have found a few in the last 4 months, but I have not been able to close fast enough because my lenders take a min of 3 weeks.  Are there lenders that that can allow for me to compete with the Cash Buyers who scoop up everything within days of hitting market. I think Im not sure if I need to switch my strategy to find off market deals, or contact Wholesalers. I feel like I am not getting anywhere, and know there are other things I can or should be doing. Can anyone offer anything in the way of advice or assistance. 

[Chris Ellis]

3 weeks is pretty standard. You may be able to find a private money individual who can move a little faster but there are a couple other parties outside of the lender that also cause delays. A third party appraisal usually has to be done and then the appraisal created, the title company also has quite a bit of paperwork to complete.

One option would be considering a personal or business term loan/line of credit so that you have cash in hand to play with the cash buyers. Otherwise, you are correct in looking at off market or wholesales. Good luck and keep at it.