This happens to a lot of people.
You’re feeling anxious and looking for a safety blanket. You’re saying you need bank financing lined up before you can get the LOI out to the seller.
But you're dead wrong.
You’re not doing careful planning.
Yes, you’re delaying your deal. Somebody else might grab it while you're procrastinating.
You can talk to a bank to get an idea about the deal structure but you can submit the LOI before you’ve secured financing from the bank.
How have you procrastinated on a deal?
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