wholesaling POF question

[Laura D.]

I made an offer on an on market property, realtor asked for POF, I submitted a generic one from a website. Agent asked me what my loan term would be, because I'm using a hard money loan..financing info needs to be filled out even though my offer is still like cash. What is the answer here? I intend to wholesale the deal, so won't be spending money on it. Thanks!

[Joe Norman]

The answer is that you are submitting an offer that is contingent on hard money financing, not a cash offer.

Be up front with the agent about your intention to wholesale this property and to not spend "any money on it". Otherwise you're wasting everyone's time and effort.