Proof of funds

[Maciej Michalak]

I am a wholesaler and came across a great deal. The property is on the mls and in order for us to sign the contract they are requesting proof of funds. Can someone help me out on this one. Thank you.

[Michael Bowser]

If you are buying the Property Cash you will need to have proof that you have the cash on hand to purchase it. On the flip side, if you will be taking out a loan to purchase the property you will need to get a bank letter saying you are approved/ pre qualified for $XXX K amount to be able to purchase the property.

All the buyers want to know is that you are not putting a offer in that you wont be able to follow through with.

Hope this helps