Seller Requesting Proof of Funds before issuing Financials

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

2yrs ago

Seller Requesting Proof of Funds before issuing Financials

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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reply by a searcher 2yrs ago
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.

reply by a searcher 2yrs ago
from IESE Business School in Long Island, New York, USA

Is it common for equity groups to provide non-commital 'comfort' letters to self funded searchers?