Which comes first - Getting option or sending to funding source?

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Posted by Lynn (FL) on March 17, 2010 at 16:43:19:


The subject line asks my main quesion...Do we gather the information from the note seller, then submit worksheet(s) to funding source(s) before we tie up the note with an option, or the other way around? To me, it would seem difficult to get an option without knowing what the funding source will pay. Am I wrong?

I guess one way would be to get an option at a price, then come back to the note seller and negotiate the real price, but that may make you look like you're pulling a "bait-n-switch".

Please clarify this step in the process.


Lynn (FL)

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