What is required for proof of funds

[Tyrone Marson]

How would a wholesaler go about providing POF to a seller on a property they intend to do a contract assignment on? What is needed in order to get a POF to present to the seller?

[Lydia R.]

@Tyrone Marson There are a couple reasons that a seller will ask for proof of funds. 1. The property is listed for sale and you are dealing with a seller that has a realtor. I wont get into the discussion about my personal feelings on this (I say dont do it) but thats part of the process and seller is not out of line for asking for this 2. The seller doesnt trust in your ability to get this deal done. Plain and simple. Bill Gates wouldnt get asked for a proof of funds. Something youve said or done has given the seller the impression that you are incapable of completing this deal.

POF is very binary. You either have the money or you dont. There are people who will tell you to use or create a fake POF. Please dont do this. The other option is to work with a hard money lender or private money lender who is willing to do this for you. You can also partner with an investor or wholesaler and split the deal with them to get their help. Last option is to just move on to the next deal if you cannot produce a valid POF