REOs/Proof of Funds

[Brian G.]

I got an email from my real estate agent saying that any foreclosure properties I want to submit offers on are going to need a proof of funds letter. I've read that you can use a Coastal Funding letter to get around this issue, but I need to figure out how to proceed while being up front with my agent. I never mentioned that I would be assigning the deal, but I said I would be bringing in a partner who is a cash buyer to close the deal. Even if I got a proof of funds letter from a local investor, I can't guarantee he or she will be the person who buys the deal from me...

Please let me know your thoughts and opinions on how to solve this proof of funds issue. Thanks.

Brian