Real estate blog entries tagged with proof of funds by Michael Collins, CDPE, SFR , Wisconsin Short Sale Specialist Realto (*ROCK REALTY|Broker|Realtor|Real Estate|WI Short Sale Agent*)

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proof of funds: What Would You Accept As Proof Of Funds? - 07/12/12 01:43 AM

Anyone with experience in short sales and REO's know the bank requires proof in writing that the buyer has the necessary funds for the purchase of the property. If the buyer is paying cash I have always advised them to obtain a letter from their bank stating they have the necessary funds for the transaction.
In a recent short sale where I had the listing, the buyer submitted a letter from his bank signed by the Vice President of Banking which included his contact number and email.

The negotiator with the bank would not accept the letter as proof of funds and asked for a copy of the buyer's account statment. … (5 comments)

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