Puchase Contract: "Buyer has the right to use private money loan"

Puchase Contract: "Buyer has the right to use private money loan"

Just put an offer in on a short sale. Showed personal Proof of Funds, but, might want to use a short term investor loan. So, under the RPA (Residental Purchase Agreement) Other terms, I added this way down on page 4 of the contract:
"Buyer has the right to use private money loans instead of personal funds and will advise escrow accordingly".

This should help circumvent any potential problems with escrow and title...especially since it's a seller chosen escrow and title. Since I made a "cash" offer that was not contingent upon any lender approval (a BIG plus to getting your offer successfully submitted), but might actually want to attach a loan for some portion of the money.

So, with this wording, if I do get private money and give that lender a 1st TD, I won't have the expense and hassle of a concurrent escrow, or upset my sellers with an unexpected curve ball.

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Jill... the investor friendly REALTOR.
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Creative thinking there!

Please let me know how the bank responds to that! Smiling