Proof of Funds for wholesalers

4 Replies

@Brian Van Pelt approaching the seller, they are aware that I’m interested property, but not that I’m a wholesaler. I’m not sure if people hate wholesalers where you reside but they hate us over here. I get suggestions to let them know I’m wholesaling, but that usually doesn’t go far because lack of knowledge on their end...

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@Kaylin Williams

... and that is the issue. Your intent is to wholesale the property. Sellers are looking to sell their property. When you enter into a contract with the purpose of buying the property , you have your financing in place which includes proof of funds. By entering into a contract with the intent to consign the contract to a buyer, that's practicing real estate without a licence. Contracting without intending to purchase is also fraud.

any business its about your reputation , you build it one transaction at a time. I think you misunderstand what wholesaling is and is not in relationship to what is legal and what is illegal.