Good Morning BIGGERPOCKETS FAMILY:
QUESTION: I am interested for a property that Asking price its 135k , 3 days inspection period and 3-5 k escrow deposit ; i need to made this deposit in 2 -3 days , my question its THE SELLER are asking FOR A PROOF OF FUNDS, that i need to got from a private lender or hard money or conventional loan , in this time the seller will be receive all the offers and just select one ; THE best OFFER FOR him; how i compete to be the first to secure the property???? I am swimming in a pool whit to many sharks.
A POF is for a Cash offer, which is evidence that you Already have the cash in an account in Your name. Anything from a lender is a Preapproval.
Thank you Mr Brooks.