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Updated over 7 years ago on . Most recent reply

User Stats

5
Posts
1
Votes
Holly Olp
  • Centerville, MA
1
Votes |
5
Posts

Wholesale Deal: Has anyone assigned to someone using LendingHome?

Holly Olp
  • Centerville, MA
Posted

I'm assigning a contact for a property and have met with a few cash buyers who are interested, but I also received an email offer from someone who has not seen the property. This person moved fast, sent me POF and a copy of a check for a deposit... however he offered less than I am asking (still doable) and his proof of funds was from LendingHome.

Knowing this person hasn't seen the property and I haven't met them makes me a little leery - and I don't know much about LendingHome as a money lender -- the last thing I want is to accept the offer and turn down the other buyers I did meet if he's going to back out because LendingHome falls through. What risks are there? What do they require? Will they need to do a full assessment or other things? How long do they take?  Have you had a good experience with buyers who have used them? 

Thanks in advance.

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