We made sure we got copies of all paid receipts for materials & work done.BUTWe had the threat of a lien by a sub because after he deposited our check he couldn't get the proceeds after it cleared.

Originally posted by @James Dunn:Can any investor out there help me with a verifiable proof of funds to get a property under contract i haveWhen I sold my California house, the buyer payed cash and showed a copy of his bank statement to prove he had the money.

Inspection has been scheduled and financing/mortgage is rolling to be ready before settlement.I just sent an email to my agent to see if he can get my a copy of each of the tenant's leases and the 2011 and 2012 tax returns for the property.Next steps:Inspection results should be available early next week and mortgage commitment should be ready next week as well.Right after settlement, I will get the vacant unit fixed with a contractor lined up.

I'm going to copy and paste it to Word just so I can read it.

Do they want a copy of your Articles of Organization?

- Proof of past purchases- Proof of past sales- If you want to be absolutely certain of his success, ask for copies of past tax returnsMost importantly, ensure that the deal is good, the LTV is low, the investor is putting up some of his own cash (skin in the game), and then get a 1st lien position.

Copy down all the For Rent #'s call and see what the rent is.

If it is, ask for a copy.

Picked up my copy at the library.Shawn

Banks are used to family trust's these days.You will probably have to show them a copy of the trust when you set up the account.