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Q: Policies And Procedures For Buying a Featured "Show Me The Deals" Property.
1. The price is not negotiable so please don’t even ask. We could mark these deals up much higher and still sell them quickly but we purposely keep them at “no calculator” prices. We could also bid buyers against each other and make more money but we don’t do that either.
2. You must qualify before you can submit your offer unless you have already purchased a property from us.
You only have to qualify once. If you are a cash buyer, you must first submit a proof of funds statement (usually a bank statement with all sensitive information crossed out). We also accept a copy of a cashier’s check for at least the amount required to purchase the property or a letter from your financial institution.
You can email proof of funds to pof@FarBelowMarket.com or fax it to our secure line at 760.687.7401.
If you are looking for hard money funding, you will need to demonstrate that you have the resources necessary to fix up the property plus you will usually need to put at least part of the purchase price into escrow…this amount varies depending on what value Real Property Lenders determine the property to be along with how much work it will take to rehab the property. Fill out an application now at http://www.californiahardmoneyloans4you.com. You can call Real Property Lenders at 805-237-6207.
3. Once you are “qualified” status, you may offer on our properties. Properties are sold on a first come, first served basis. For this reason, we strongly recommend that you qualify in advance. When we “go live” with the property, the first potential buyer to fax or email a copy of a $10,000 deposit check made out to Wholesale Real Estate Academy, Inc. will be first in line. A copy of a personal check for $10,000 is fine. The potential buyer will also immediately sign a purchase agreement with FarBelowMarket. The buyer then has 72 hours to perform due diligence and back out for any reason whatsoever. At the end of 72 hours, an actual $10,000 deposit must be sent over night or wired. The buyer then has another 10 days to close, or as long as it takes Real Property Lenders to fund if using hard money. We reserve the right to accept an “all cash” buyer ahead of a “hard money” buyer (this does not mean that this will necessarily be the case).
4. If the potential buyer decides not to proceed with the purchase, then we will simply move to the next position in line.
5. We will mark the exact time that the (copy of) the deposit checks are faxed or emailed to us, and we will strictly follow “first come first served” based on when these copies are received.
Other questions not covered here, please email us |
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