OfflineI have a REO deal I am working on. Im trying to get funding for it thru hardmoney lending. This is my issue they want you to put the end buyer on the application but its an REO the bank requires me to send a proof of funds with my offer. i know its a good deal at it almost 50% its fair market value. so i cannot get the proof of funds before the end buyer info my question is how do I protect myself that if I tell the end buyer all the info he won't go behind my back and try to do the deal on his own. Am i being paranoid?
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Star Prosperity
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I am not for sure what you are asking in this senario, but if you purchase a home with hard money you would be the owner of the property. If you are trying to do a double closing or assignment of contract then you have control of the property with a contract and the investor would not be able to purchase the home without you exiting out of the deal first. If you feel that their only objective is to go around you, you should have them sign a non-circumvent agreement. There are investors that will go around you and are very deceptive. You should always protect yourself and move forward - you will find investors that will find value in what you do! I hope that this information helps!
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go to tempofunding.com and get a proof of funds letter
Thank you guys I do appreciate the advice
Star Prosperity
starinvestmentproperties@
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