Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Rehabbing & House Flipping
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 6 years ago on . Most recent reply

User Stats

912
Posts
107
Votes
Patrick Philip
  • Florida
107
Votes |
912
Posts

Coordinating wholesalers, HML's, and inspectors?

Patrick Philip
  • Florida
Posted

Just got off the phone with a Hard Money Lender (BridgeWell Capital), and they told me it usually takes them a couple business days to get their inspector out there. These wholesale deals have no inspection period, so once I sign the contract, I must go through with it, or lose my earnest money. They told me their basic guidelines, so should I just go by what they say and if by some chance I happen to be wrong, they I lost my earnest deposit?

As long as the house is 3/2 or more, over 900sf, and not a complete rehab like a fire or flood property, they said they would most likely lend on it.

So my only option is to "risk" my earnest money until I get to know my HML better?

Loading replies...