Proof Of Funds
Requiring proof of funds from prospective buyers is a critical qualification step and filter to protect you from wasted time and unnecessary headaches. The last thing you want to be doing is wasting time with a buyer who is not qualified or even purposely misleading you.
Show me the money! Valid proof of funds:
- Online banking screenshot
- Bank account statement
- Brokerage account screenshot
- Brokerage account statement
- Pre-approval or pre-qualification letter from lender
- Commitment letter from hard money lender or private lender
If prospective buyers resist your proof of funds request, you should encourage them to redact any information they deem sensitive. Requiring proof of funds will eliminate wholesalers who tell you they are cash buyers but they really don't have any money or intention to buy your property.