Most agents will want proof of funds or a pre-approved loan letter w/ an offer.

First you will need the approval of the bankruptcy court but before you get to that point, ask the agent to set up a meeting with the sellers, the agent, and you.

I apply for an equity loan to use as my down payment on my first deal, but my debt to income is too high so it was not approved.

I immediately inquired as to why I was receiving a bill for something that I never approved and was told that notification of the repair and the costs involved had been "given in advance".

I would like to lay out a scenerio for a property that I am closing on in the next few weeks (hopefully, we have a final approval for SS) and hear what other buy and hold investors have to say.Backstory- My normal bread and butter property in this area is badly distressed, total rehab (all mechanicals and cosmetics).

It usually takes the insurance companies several weeks or months to approve major repairs like these so a lot of the contractors will be waiting around for the insurance to give the go-ahead.

Hopefully, it will be approved soon and more private insurers will get in the market, creating actual competition, now that there are no longer taxpayer subsidized rates for new owners, which will likely lead to a better system overall if we make it through the transition.

Whatever DU approves is the DTI limit.

(your Attorney can help with the details)Once it is approved by the bank and you have a signed P&S you can legally begin to market the property.

Surprise surprise they could not get approved for anywhere else so the seller rented a uhaul for them to move all their stuff into.