Proof Of Funds-HELP!
I am working with a realtor who has sent me a list of properties on the MLS. I have done a walk through on several of the properties, sent her my offers, and before she writes up the contracts her broker is asking for proof of income. I am not the end buyer, and as a new investor I don't have those kinds of funds laying around in my bank account right now. Also, it doesn't sound right asking the end buyer for money right now before we go to a title company and close on a deal. To my knowledge I thought the money would be held in escrow and the seller gets the money/proof they need then. I don't know what to do and I need help fast!
Thanks,
Barbara Gardner