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Updated about 6 years ago, 11/29/2018

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912
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107
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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?

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