All Forum Posts by: Tam Nguyen

When looking for a preapproval for refinancing, does one need to have a subject property selected and presented to lender? The reason this question comes up is because when a great BRRRR opportunity presents itself, if one have to get preapproval from the refinancing lender and the hard money lender, that would slow down the process and someone else could snatch the deal up. Can anyone chime in on this?

Thanks for everyone's time and input. Really helped me see this issue from the seller's point of view. From the responses I can see that making an offer sight unseen is neither ideal for the seller nor is it something that all buyer's agent will avoid so there is definitely not just one school of thought here.

Hello fellow BP members. I've been lurking the forums studying as much as I could since January 2019. Today I came across what appears to be a solid deal on the MLS. The property is 2+ hours away and wanted to put in my first offer ever with my realtor before the house gets shown. The response I got from the realtor was that it's not good to offer without seeing the place first. I recall hearing on one of the podcasts where the guest said that one can make the offer and back out if one finds something that breaks the deal. The idea of beating the crowd while maintaining the safety of being able to perform due diligence seem like a groundbreaking strategy. But now the realtor told me that the seller can force me to sign a sight unseen document/contract makes me want to rethink this strategy. So first off, can a seller do that legally? I've never came across this issue at least on BP so any help would be tremendous.