Buying an Indianapolis Wholesale Property: Proof of Funds, Earnest Money, and Closing Steps

Buying an Indianapolis wholesale property requires more than finding an opportunity and making an offer. Buyers should be prepared to show they can fund the purchase, complete due diligence before offering, understand the contract’s earnest-money terms, and meet a potentially short closing timeline.

Invest With Ben says its inventory may include properties it owns, has under contract, or controls, and that availability changes. A listing should not be treated as available until the company confirms it. Its properties are sold as-is, and buyers are responsible for independently evaluating each opportunity.

At a glance

Qualification: Invest With Ben says it requires proof of funds or a financing letter from a credible private or hard-money lender. It does not accept conventional bank financing.
Due diligence: The company’s published terms say offers have no inspection or other contingencies; complete the due diligence you want before offering.
Offers: Its published process allows one offer per buyer, does not accept escalation clauses, and selects the strongest offer after the deadline.
Earnest money: The published minimum is $5,000 for cash purchases or $7,500 for financed purchases. The deposit is described as non-refundable and credited toward the purchase price; a higher amount may apply.
Closing: The published terms call for a 14-day closing or sooner unless otherwise specified, and say closing funds must be wired 24 hours before closing. Confirm all requirements in the current purchase agreement.

These are summaries of Invest With Ben’s published process, not a substitute for the current property email, purchase agreement, or professional advice.

Prepare proof of funds before you make an offer

Proof of funds is documentation that demonstrates access to money for a purchase. It is different from an estimate that a loan may be approved or an informal assurance that money could become available.

Invest With Ben says it accepts cash offers, does not accept conventional bank financing, and requires either proof of funds or a financing letter from a credible private or hard-money lender before approving a buyer to purchase inventory. A conventional mortgage preapproval should not be assumed to meet that requirement.

A cash buyer can ask what evidence is accepted, such as a recent statement from a financial institution. A buyer using private or hard-money financing can confirm that the lender letter is current and consistent with the proposed purchase and closing plan. Protect sensitive account details, and ask the company what information may be redacted before sending documents.

Plan for the total cash required to close, not just the offer price. Depending on the transaction, this may include earnest money, closing costs, lender charges, insurance, taxes, repairs, utilities, and reserves. The company’s published terms list buyer-paid closing costs and a $199 transaction-coordination fee. They also address taxes: buyers pay taxes at the next installment, while the seller states it will pay delinquent taxes before closing. Confirm the amounts and allocations in the agreement for the specific property.

For future opportunities, review the company’s inventory-access process and submit clear buying criteria. The company says property access and opportunity notifications are available to subscribing members. Consider whitelisting its email so time-sensitive property notices are less likely to be filtered.

Review the property before offering

A quick offer process does not replace independent due diligence. Invest With Ben says property information may come from inspections, county records, prior listings, and seller information, but buyers remain responsible for their own review. The company also says its properties are sold as-is and that it does not warrant or guarantee property information.

Follow the instructions in each property email. The company’s published process describes a group walkthrough after a property is marketed, with an offer deadline set afterward. Access and timing can vary, so confirm the details for the specific opportunity.

Before you offer, consider reviewing:

Property condition and likely repair scope
Comparable sales relevant to your valuation
Ownership, title information, and the interest being conveyed
Insurance availability and cost
Permits or other records relevant to planned work
Taxes, utilities, holding costs, and closing expenses
Your intended rental, renovation, or resale plan

These are examples, not a complete checklist or a recommendation to buy. If you cannot visit in person, consider arranging qualified local assistance. Do not assume that a “wholesale” listing has a particular legal or transaction structure: review the purchase agreement to confirm who is selling and what interest is being conveyed.

Understand the offer rules and as-is terms

Invest With Ben’s published process says offers are confidential, each buyer may submit one offer, escalation clauses are not accepted, and the strongest offer is selected after the deadline. It also says no inspections or contingencies are permitted under its standard terms and that buyers must complete desired due diligence before making an offer.

That makes the pre-offer period especially important. Read the property details and current agreement carefully, assess whether the price and terms work for you, and resolve questions before submitting. The How We Work page links to the company’s purchase contract. Review the agreement for the particular transaction, rather than relying on a summary; ask an Indiana-qualified attorney about contract-specific questions.

Know the earnest-money amount, timing, and risk

Earnest money is a deposit credited toward the purchase price at closing. The contract determines how much is due, who receives it, when it must be delivered, whether it can be returned, and what happens if the transaction does not close.

Invest With Ben’s published process lists minimum earnest money of $5,000 for a cash purchase and $7,500 for a purchase using financing. It describes the deposit as non-refundable and credited toward the purchase price, and says a higher amount may be required depending on the purchase. Its published terms call for wiring the deposit within 24 hours after the purchase agreement is signed. The company also says it continues marketing a property until it receives the required deposit and paperwork, and that offers are subject to prior sales and withdrawals.

A non-refundable deposit is a material financial commitment. Before signing or wiring funds, confirm the exact amount, deadline, recipient, refund terms, and applicable purchase-price threshold in the current agreement. Independently verify wire instructions using a trusted phone number—not contact details supplied only in a new email. Seek legal advice if you have questions about the commitment.

Coordinate title, escrow, and closing

Invest With Ben says its preferred attorney or title/escrow company schedules closing after receiving the signed contract and earnest money. Its published terms call for closing in 14 days or sooner unless the seller specifies otherwise, and require closing funds to be wired 24 hours before closing. The company’s page currently identifies Eagle Land Title; verify the settlement arrangements for your specific transaction.

The title process examines ownership and certain property claims or issues. The Consumer Financial Protection Bureau explains that owner’s title insurance may protect a homeowner if someone later makes a claim related to a period before the purchase, such as a claim involving unpaid taxes or a contractor’s unpaid work. Coverage, exclusions, cost, and suitability depend on the policy and transaction; ask the title or settlement professional about your options. Learn about owner’s title insurance from the CFPB.

Before closing, keep the fully executed agreement and addenda, verify receipt of earnest money, respond promptly to title and settlement requests, and reconcile the final amount due with your funding plan. Confirm wire instructions independently before sending funds.

Frequently asked questions

Does Invest With Ben accept conventional bank financing?

No. The company says it accepts cash offers and does not accept conventional bank financing. It says buyers using private or hard-money financing need a credible lender letter for qualification.

How much earnest money is required?

The company’s published minimums are $5,000 for cash purchases and $7,500 for purchases using financing. It says the deposit is non-refundable and a higher amount may be required, depending on the purchase. Confirm the exact amount and terms in the current agreement.

Can I make an offer before completing due diligence?

The company’s published terms say buyers must complete desired due diligence before making an offer and describe offers without inspection or other contingencies. Review the property-specific instructions and agreement before deciding whether to offer.

How quickly does closing happen?

The published terms call for a 14-day closing or sooner unless the seller specifies otherwise, with closing funds wired 24 hours before closing. The actual dates, documents, and funding deadline should be confirmed for the transaction.

Prepare before the next opportunity

An Indianapolis wholesale-property purchase may move on a short timetable, but speed is not a substitute for reviewing the property, confirming funds, understanding the agreement, and accepting the risks. Before offering, decide whether the opportunity fits your strategy, finances, and risk tolerance.

Start with how Invest With Ben says its process works, review inventory access, and contact the company with your buying criteria and qualification documents ready. Terms and availability can change; rely on the current property information and executed agreement. This article is educational information, not legal, tax, lending, insurance, or investment advice.