Acquiring Private Loan Money to show proof of funds

[Stephanie Grady]

Hi,

I have a quick question about private lenders. We are looking at buying and holding another SFH and will be able to make an all cash offer because my parents have agreed to lend us money at a good interest rate. My question is -- what is the best way for me to actually acquire the money from my parents so we are ready to go to make an offer when we find the deal we want? If the seller requires proof of funds, I want to be able to provide that ASAP so we can move forward quickly on closing. Should they send the money "now" via check or wire transfer, so the money is in our account ready to go? We are new to private lending so I apologize if my questions are extremely naive. Any insight would be much appreciated!