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Updated over 6 years ago on . Most recent reply

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29
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6
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Bill Zarzecki
  • Westland, MI
6
Votes |
29
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Proof of funds for getting a contract

Bill Zarzecki
  • Westland, MI
Posted
Question from a newbie: what is required to get a house under contract? Researching private and hard money lenders online, all lenders want a house under contract before releasing funds, however, working with a realtor, they want proof of funds prior to showing a house, let alone putting one under contract. This is a catch 22 that I cannot seem to resolve. Can someone help me with this? Looking to start investing ASAP, just need this last puzzle piece in place. Thank you

Most Popular Reply

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1,473
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1,993
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Omar Khan
  • Rental Property Investor
  • Dallas, TX
1,993
Votes |
1,473
Posts
Omar Khan
  • Rental Property Investor
  • Dallas, TX
Replied

@Bill Zarzecki I would have to agree with @Wayne Brooks. Nobody wants to waste their time. If you want to get a good realtor (not some newbie/amateur) having proof of funds just cuts useless BS. 

It will expedite the process and help you be taken seriously. You can do it the hard way and hope to purchase something or you can do it the easy way.

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