proof of funds - Posted by jean

Posted by Redline on July 03, 2002 at 12:47:53:

Proof of funds will generally resemble some sort of ‘official looking’ document like a bank statement -or- a statement from a mortgage broker, or private lender with an acct# or a contact#.

How do you know if the person will close? You don’t. And you can’t guarantee everything you tie up will be to their liking. That’s part of the business. That’s why you need to find DEALS. If you’ve got a REAL DEAL who cares if guy #1 closes? You’ll be able to find 10 other guys to take his place. Of course, if you’ve got a DOG and not a DEAL you’re out of luck.


proof of funds - Posted by jean

Posted by jean on July 03, 2002 at 12:25:32:

When requesting proof of funds from an investor that has agreeded to do business with me, what will this proof take the form of, will it be a bank statement or something they just type up, there has to be a way to verify the information it seems. How will I know if a private investor is a person trustworthy and take care of business? I’ve read
look in newspapers for investors that buy houses in any kind
of condition then call them to find what kind of properties
they want and there max. price range, so if I call all these investors how can I be positively sure they can and will purchase if terms are right? Will I need to check his
track record?, an how do I do that?