Question about POF letter with REO properties (Transactional funding)

[Katrina P.]

I just got off the phone with a Realtor whom I told I have Proof of Funds for a REO property. He asked me was it an FHA loan, and I said "no, it's transactional funding". He didn't know what I was talking about, and asked me to explain. He wanted to know if it was a cash offer, and I told him it was financing from an investor. He said, "well, your're going to need to show a bank statement from the investor, proving that the money is in the bank". He also didn't know what a back-to-back closing was. How do I handle situations like this with Realtors? How do I explain transactional funding to them when I'm asked? Is it actually cash from an investor, and will I need to show that money available? I am just getting my feet wet in this business, and learning as I go. I'm reading on this site at the fastest rate I can, but haven't come acrros this yet. Any advice?