Using Jerry Norton's Proof of Funds Letter

[Account Closed]

Is it ethical to use a POF letter like this to give to a agent that is requesting it? If my intentions are to wholesale it? I recently submitted a cash offer to a agent for a MLS listed property and they accepted my offer and the agent asked for POF. I have recently upgraded to Jerrys Flipster Pro level membership and have submitted his soft POF letter to the agent. The agent asked me if this was a hard money loan, I said "Yes, I would be using hard money for the deal. It would not be subject to the traditional financing contingencies and would still be considered a cash offer. This is a pre approval letter from the lending institution I have a relationship with that I use for my deals." I'm waiting to hear back from them now. Was just wondering if anyone had a opinion on this.

We also agreed to a 10 day inspection period so I would be able to protect my EMD and back out of the deal if I feel unsure or cannot find a buyer within the 10 days. Again my intention is to wholesale this deal, but would have no problem taking it down myself with hard money because it is actually a great deal in my opinion, I just would rather wholesale it if I could.

Here is his video explaining it here: https://www.youtube.com/watch?...

[James Wise]

Originally posted by @Account Closed:

Is it ethical to use a POF letter like this to give to a agent that is requesting it? If my intentions are to wholesale it? I recently submitted a cash offer to a agent for a MLS listed property and they accepted my offer and the agent asked for POF. I have recently upgraded to Jerrys Flipster Pro level membership and have submitted his soft POF letter to the agent. The agent asked me if this was a hard money loan, I said "Yes, I would be using hard money for the deal. It would not be subject to the traditional financing contingencies and would still be considered a cash offer. This is a pre approval letter from the lending institution I have a relationship with that I use for my deals." I'm waiting to hear back from them now. Was just wondering if anyone had a opinion on this.

We also agreed to a 10 day inspection period so I would be able to protect my EMD and back out of the deal if I feel unsure or cannot find a buyer within the 10 days. Again my intention is to wholesale this deal, but would have no problem taking it down myself with hard money because it is actually a great deal in my opinion, I just would rather wholesale it if I could.

Here is his video explaining it here: https://www.youtube.com/watch?...

 no