Wholesalers! Proof of funds?

[Immanuel Chin]

Wholesalers! I've been consistently going door knocking on pre-foreclosures, and it been a ride! I've run into numerous difficulties, but one that sticks out is Proof of funds! A lot of sellers ask. Firstly, is it necessary? Also, If so, where can I acquire a legitimate proof of funds document?

[Jay Hinrichs]

Originally posted by @Matthew Paul:

You could use your Bank Statement , that would be the easiest .  Next you could go to your bank and get a irrevocable letter of credit . 

Is it necessary to have proof of funds ?   You may find someone who isnt financially smart .   But most people want to see the cash .

ILC  that would be something for a starting wholesaler :)  those are not so easy to get.. 

If your working with a good local HML they should pre approve you and then give you a POF>.

if you have no intention of buying the home and just want to make a brokerage fee . then its not necessary and just tell the potential seller the truth.. you are out there and looking to assist in the sale of the home and will do so for a modest fee.