Jeff’s Carlsbad Blog for First Time Home Buyers


What is POF (Proof of funds)?

Posted in Financial,Offers by Jeff Dowler on January 13, 2010
Tags: , ,

If you are buying a home these days, especially a short sale or REO (foreclosure), you will likely be asked to provide PROOF OF FUNDS (you may see this as POF in MLS listings).

Just as the seller wants to see a pre-approval to know you are qualified to obtain a loan, a seller (and almost always the bank) wants PROOF that you have the money for the down payment, or for a cash purchase. This can be copies of your bank statement (as recent as possible), your mutual funds statement, or similar. Be sure to block out your account numbers when providing this to your agent to submit with your offer.

Search for Homes Community Information First Time Home Buyers Relocation Services and more How to get in touch with me

All content copyright © 2010 Jeff Dowler “The California Relocation Dude”

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s


%d bloggers like this: