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#147057 - 06/09/07 11:36 PM Proof of funds for all-cash buyer
s58y Offline
Junior Member

Registered: 05/20/07
Posts: 7
Loc: Eastern NY
As a prospective all-cash buyer, I was wondering what kind of proof-of-funds documentation I need to get ready before trying to find a buyer's agent. The goal is to look like I'm an actual buyer, and not someone out to waste the agent's time just looking around at houses (or worse, a criminal out to rob houses, etc).

I assume this would be equivalent to getting pre-qualified or pre-approved for a mortgage before you go househunting.

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#147068 - 06/10/07 04:14 AM Re: Proof of funds for all-cash buyer [Re: s58y]
Ohio RealtorŪ Offline
Member

Registered: 11/17/05
Posts: 369
Loc: Cincinnati
A verification letter from your bank or investment brokerage is always a good thing.
_________________________
My thoughts are opinions only and not to be confused with legal advise. www.Find1home.com

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#147098 - 06/10/07 10:39 AM Re: Proof of funds for all-cash buyer [Re: Ohio RealtorŪ]
REODayton Offline
Major Contributor

Registered: 07/27/06
Posts: 3699
Loc: Dayton Ohio
What Ohio Realtor said. I also have some investors send me their current month bank statement. When they do that I have them black out portions of the account number to protect themselves.

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#147610 - 06/12/07 03:17 PM Re: Proof of funds for all-cash buyer [Re: REODayton]
James Renouf Offline
Junior Member

Registered: 06/12/07
Posts: 2
That is good to know.

James

http://www.jamesrenouf.com

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#147873 - 06/13/07 08:07 PM Re: Proof of funds for all-cash buyer [Re: James Renouf]
s58y Offline
Junior Member

Registered: 05/20/07
Posts: 7
Loc: Eastern NY
Thanks for the responses -- I hadn't thought of blanking out the account number.

I'll probably cut the account number out with scissors, since you never know how effective just covering it up with a marker or pen would be.

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