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Updated almost 10 years ago on . Most recent reply

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Tony Blaine
  • Specialist
  • Las Vegas, NV
14
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50
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Best Way To Provide Proof of Funds To Seller

Tony Blaine
  • Specialist
  • Las Vegas, NV
Posted

Hello BP Team, i wanted to get your opinions on the best way to provide proof of funds to a seller and their broker when you are using private investor funds and hard money to purchase a Commercial property.

For example,  funds aren't necessarily in my personal bank account but instead the funds coming from different investors. 

I'm aware of the LOI, but when POF is required with it, what has been your best way to present it with the LOI when funds will be coming from a number of different investors.

Thanks for any and all feedback in advance. 

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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
Replied

You're doing a financed offer, as opposed to a cash offer, so you'd provide a loan commitment/approval, not a POF.

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