Posted by dewCO on January 10, 2001 at 11:36:23:
Yes if you don’t have enough cash to do the deal then #2 is the answer. But you wold write the offer that you are getting and xyz type loan for $xxx amount, so they wouldn’t ask for proof of funds, they would ask for proof of a loan commitment (for which you’d still need some cash, unless it’s a 100% or more loan!).
They would only ask for proof of funds if you write a cash offer. And, don’t be writing these offers if you can’t close one way ro the other should it become necessary because you can’t flip it that fast.