Seeking Advice - Found a great lead, need advice on financing

[Kelvin Espinal]

Hi Everyone - I have a pretty solid lead that my Partner and I are pursuing. It has not been listed yet but we are very interested in making an offer. Knowing that the market we are in is "moving quick" (we've seen this w/ every good deal that pops on the MLS), we want to get advice on the right strategy.

I am currently working to lock in a Home Equity LOC but we are still in the application process and I would imagine that I am still several weeks from being fully completed. As such, my question to everyone is do you recommend that I submit an offer noting we will seek conventional financing (putting down 20%) or do I note the LOC and the timeline? My objective is to win this deal but I'd really prefer not to tie up capital with the down payment.

Thanks in advance for any input you all may have! -Kelvin