Private Lender Pre-Qual Letter- What's Your Success Rate?
Has anyone ever had any luck (when using private money) getting the seller (REO) to accept a pre-qualification letter from a private lender? For the successful attempts, would anyone like to share how it's worded?
I have a private lender that wants to use a business LLC to fund a deal for me. I am taking title in my business LLC. The seller wants to see either proof of funds or a pre-qual. I am stretching to get this deal and don't have the liquid funds right now to show the proof of funds myself without refi on an existing asset (not enough time anyway). I am hoping they are ok with a letter from my investor stating that he will fund the transaction. I want the wording and format to be spot on.
Any tips will be appreciated!