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Updated over 7 years ago,
Earnest money and proof of funds.
Quick question, lately I've been trying to put offers in on props that are on the MLS and the agent that I've been working with keeps insisting that I need earnest money and proof of funds. So I told him just to contact the listing agent via email and put in offers that way in order to skirt that issue. Now my question is, if I get an offer accepted do I just write up an agreement with my end buyer for my wholesale fee or do I get it under contract and approach my buyers that way? And if you say get it under contract what do I do about the EMD and POF issue?
Thanks in advance for any constructive help