Jeff’s Carlsbad Blog for First Time Home Buyers

Do You Have Proof of Funds?

Posted in Financial,Offers by Jeff Dowler on April 27, 2010
Tags: , , , ,

Proof of funds (POF) can be an important component of your offer.

If you are a buyer with a down payment, it may be in your best interest to submit an offer with proof of funds. While this may only be required in the case of REOs and short sales as we see here in Southern California, I think it may be in your best interest, and make your offer more competitive, if you include a copy of a bank statement or other record (black out those account numbers) to prove you have the funds for the down payment.

If you are a cash buyer this is pretty much a MUST DO part of your offer.

Your state contract may require this, as ours does, after offer acceptance, but why not show your interest and your financial capability to the seller up front.

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


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