What to do if a motivated seller asks for proof of funds?

[Agustin Rossi]

What do I do or say when a potential seller lead ask me for proof of funds to put the house under contract? And then what do I do if a potential buyer wants to go see the house during inspection time, what do I do or what do I tell the seller? Thanks!

[Don Konipol]

Quote from @Agustin Rossi:

What do I do or say when a potential seller lead ask me for proof of funds to put the house under contract? And then what do I do if a potential buyer wants to go see the house during inspection time, what do I do or what do I tell the seller? Thanks!

I’m sure you’re well intentioned - and want to learn the real estate industry while earning some money.

That being said, I’m going to provide you with some hard facts; “wholesaling” is NOT anything like what is described in YouTube videos, guru seminars, or lead on to $40k mentorship programs.  Rather than go into a long narrative, I’ll just state the facts 

1. 99% of all people who try “wholesaling” never make even minimum wage from their efforts
2. “Wholesaling” is under attack in many states and local jurisdictions
3. Wholesaling is NOT investing, it’s a sales job or marketing business
4. Successful wholesale operators spend $10,000 per month and up on marketing /lead generation
5. Most information on line concerning wholesaling is BIASED because the person providing the information is benefiting in some way by the distortion of facts
6. You may need to be a licensed real estate broker/agent to wholesale legally in many jurisdictions
7. Wholesaling will only marginally teach you or provide you with experience useful for real estate investment 
8. Tying up a desperate and in arrears homeowner with a purchase contract you can not perform on and in which a sale will happen ONLY if you are successful flipping the property for a higher price can cause extensive damage to the homeowners finances, credit and personal life.