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Updated over 10 years ago on . Most recent reply

User Stats

105
Posts
9
Votes
Pedro Oliva
  • Investor
  • Chicago, Il
9
Votes |
105
Posts

Pre-qualification letter when making offer?

Pedro Oliva
  • Investor
  • Chicago, Il
Posted

Ive read that offers or more likely to be accepted if you show proof of funds such as a bank statement if paying cash or pre-qualification letter if financing is in place. My question is, that if one is wholesaling the property would this still be necessary? Wouldnt your buyer be the one who would need these items? To me it seems like a catch-22 situation, especially if I dont have the funds and have not applied for financing if no buyer is found.

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