Seller Requesting Proof of Funds before issuing Financials

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September 07, 2023

by a searcher from Indiana University at Bloomington in New York, NY, USA

Hello -

Exploring an acquisition opportunity on a laundromat in NYC and the seller is requesting proof of funds before issuing Financials. Is this normal?

Thanks,
Sam

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commentor profile
Reply by an intermediary
from The University of Chicago in Chicago, IL, USA
This is normal. Proof of Finds can be your PFS or an explanation of how you plan to fund the purchase price. Honesty and transparency have value. You can ask the seller or broker high-level financials. Be creative in leveraging lack of seller financials.
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Reply by a searcher
from Northwestern University in Estados Unidos
It's common. If you can demonstrate how many stakeholders and how committed they are to you and your search, should be enough to get their responses.
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