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Atlanta Internet Buyers: Proof of Cash Funds Letter Must For Everyone
Atlanta Internet Buyers:
Proof of Cash Funds Letter Must For Everyone
Atlanta Internet Buyers - Proof of Funds Letter A Must For Everyone for every purchase. Any offer must be substantiated for the Seller to consider it. Any person could say they have the money in Cash to make the offer more appealing. The PoF Letter verifies the availability of the money.
While one wishes it isn't true, agents have (KNOWINGLY) submitted Cash offers to get to the top of consideration and then request a change to Mortgage once their contract is accepted. Not an honest approach...
ONE EXCEPTION:
In the Georgia Association of Realtors Forms, F79 deals with an ALL CASH SALE.  Included in Item #1 is a Buyer option to supplement the capacity for All Cash with a Mortgage. If the Seller agrees to that stipulation, then the change is already part of the Purchase and Sale Agreement. 
The key component is transparency and honesty within the Offer.
GAR Form F79, in Item #3, includes the phrase "funds ... and/or assets". That means the Seller may determine that selling Assets is, or is not, acceptable. Why? Because  ABLE TO GET the Cash is not the same as HAVING the Cash.
 
Elizabeth Weintraub Sacramento ... more

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