Proof of Funds for a Wholesale Deal.

I’m trying to get around having to have proof of funds on a deal that I want to wholesale. It’s a foreclosure property listed on the MLS. The seller requires $1k earnest money and proof of funds. The property has been on the market for almost 6 months and it would seem they would have some flexibility. I haven’t actually submitted a contract yet but was informed by the realtor of these requirements and told to bring the appropriate paperwork to be faxed in with the contract.
Any ideas?

I am also interested in hearing some responses to this. Do you need to show some proof before making offers?

Get a proof of funds letter from a hard money lender. Most do not perform a credit check.

The $ is made when you buy, so make sure your offer is low enough for a profit on a wholesale.

They are trying to make sure you are the buyer because they have a date to meet. Make sure you have the correct language in the contract so you can be a wholesaler. Be careful of deposits unless you are sure you can find a buyer who can close before the auction date.