1,153,799
Anything on letterhead with a verified financial institution which includes a name & signature with contact information for same and the knowledge that a call and respective emails will be made. It shall also entail the full amount necessary to consummate the transaction.
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Mary Yonkers
Erie, PA
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
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Diana Dahlberg
Pleasant Prairie, WI
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Candice A. Donofrio
Fort Mohave, AZ
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Kat Palmiotti
Kalispell, MT
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Michael Jacobs
Pasadena, CA
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Nina Hollander, Broker
Charlotte, NC
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Ron and Alexandra Seigel
Carpinteria, CA
4,689,754
When representing buyers I include a copy of a statement with the balance or a letter on a institution's letterhead signed by a representative'phone contact information. Depending on market conditions, there may be additional information submitted.
For sellers: use the submitted information and then verify with the sources. Ask for additional information if not sufficient or suggest seller reject if necessary.
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Anthony Acosta - ALLAT...
Atlanta, GA
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Richard Weeks
Dallas, TX
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
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Ron and Alexandra Seigel
Carpinteria, CA
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Candice A. Donofrio
Fort Mohave, AZ
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Diana Dahlberg
Pleasant Prairie, WI
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Kathleen Daniels, Prob...
San Jose, CA
916,843
Statement from financial institution to the effect that liquid assets exist.
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Mary Yonkers
Erie, PA
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
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Francine Viola
Olympia, WA
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Diana Dahlberg
Pleasant Prairie, WI
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Kat Palmiotti
Kalispell, MT
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Michael Jacobs
Pasadena, CA
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Nina Hollander, Broker
Charlotte, NC
681,434
We require CURRENT (within past 30 days) Bank Statement(s) or financial statements proving the funds are available to close.
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Mary Yonkers
Erie, PA
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Michael Jacobs
Pasadena, CA
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
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Kathleen Daniels, Prob...
San Jose, CA
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Ron and Alexandra Seigel
Carpinteria, CA
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Candice A. Donofrio
Fort Mohave, AZ
1,090,375
I would like Bank letterhead stating the name of the customer and confirming funds sufficient to do a real estate transaction in the amount of X available as of X date.
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Candice A. Donofrio
Fort Mohave, AZ
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Richard Weeks
Dallas, TX
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Michael Jacobs
Pasadena, CA
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
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Ron and Alexandra Seigel
Carpinteria, CA
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Diana Dahlberg
Pleasant Prairie, WI
3,405,845
Current bank statement (within last 30 days) in the name of the person making the purchase. I no longer accept "verified" bank statements.
Here's why: Years ago, I listed a short sale. The owner was also an independent broker who did loans as well as real estate. We know that short sales need to be arms-length. The buyer was a friend of the seller who lived next to a relative of the seller who gave the buyer $700K to buy the home. Yes, the money was in his account in his name BUT had we seen the statement, we would have seen one lump sum of $700K was deposited into the account.
Can you say .... F R A U D ????
The lender had a red flag on that account. They were watching it carefully. When the buyer refused to sign the lenders arms-length "warning" letter that talked about federal offense and going to jail ...
For a regular sale, said letter may be acceptable with verification.
Nuff said.
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Mary Yonkers
Erie, PA
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
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Kris Collis, Associate...
East Stroudsburg, PA
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Ron and Alexandra Seigel
Carpinteria, CA
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Diana Dahlberg
Pleasant Prairie, WI
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Michael Jacobs
Pasadena, CA
5,246,662
Letter from the buyer's banker or a copy of their bank statements.
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Richard Weeks
Dallas, TX
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Mary Yonkers
Erie, PA
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Bob "RealMan" Timm
Minot, ND
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Candice A. Donofrio
Fort Mohave, AZ
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Diana Dahlberg
Pleasant Prairie, WI
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Ron and Alexandra Seigel
Carpinteria, CA
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Michael Jacobs
Pasadena, CA
1,865,602
Copy of account(s) with name clearly stated & all account numbers can be blacked out. Current dates which in this case worst would be Dec.
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
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Candice A. Donofrio
Fort Mohave, AZ
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Diana Dahlberg
Pleasant Prairie, WI
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Michael Jacobs
Pasadena, CA
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Kathleen Daniels, Prob...
San Jose, CA
5,584,078
on bank letterhead, and signed by someone of authority, the statement reflecting the buyer has as of that date the total sum needed to close on the property....
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
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Candice A. Donofrio
Fort Mohave, AZ
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Diana Dahlberg
Pleasant Prairie, WI
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Michael Jacobs
Pasadena, CA
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Kathleen Daniels, Prob...
San Jose, CA
5,773,924
Caroline,
On the high end, people offer their private banker's phone number. In commercial real estate, it was letter of credit with international clients on which the monthly lease amount was drawn...Some lease considerations were over several million dollars. A
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Bob "RealMan" Timm
Minot, ND
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Candice A. Donofrio
Fort Mohave, AZ
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Diana Dahlberg
Pleasant Prairie, WI
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Michael Jacobs
Pasadena, CA
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Nina Hollander, Broker
Charlotte, NC
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Kevin J. May
Hobe Sound, FL
5,425,803
Current statements IN WRITING - anyone can pose as a banker/financial planner by phone so, it always has to be in writing.
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Peter Testa
Danbury, CT
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Anthony Acosta - ALLAT...
Atlanta, GA
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Richard Weeks
Dallas, TX
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Michael Jacobs
Pasadena, CA
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Bob "RealMan" Timm
Minot, ND
2,484,837
A current bank statement and the banks phone number.
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Peter Testa
Danbury, CT
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Anthony Acosta - ALLAT...
Atlanta, GA
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Mary Yonkers
Erie, PA
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Michael Jacobs
Pasadena, CA
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Debe Maxwell, CRS
Charlotte, NC
2,826,763
Depending on the deal...I may even have to speak to the bank
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Michael Jacobs
Pasadena, CA
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
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Candice A. Donofrio
Fort Mohave, AZ
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Diana Dahlberg
Pleasant Prairie, WI
921,504
Account #, password and transfer code.
Overwhelmingly, all I get is a statement that shows a cash balance.
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
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Diana Dahlberg
Pleasant Prairie, WI
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Lyn Sims
Schaumburg, IL
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Michael Jacobs
Pasadena, CA
1,713,576
The answer is in the word proof.
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Bob "RealMan" Timm
Minot, ND
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Candice A. Donofrio
Fort Mohave, AZ
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Diana Dahlberg
Pleasant Prairie, WI
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Michael Jacobs
Pasadena, CA
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Ron and Alexandra Seigel
Carpinteria, CA
1,231,853
Excellent answers here.
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Bob "RealMan" Timm
Minot, ND
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Peter Testa
Danbury, CT
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Anthony Acosta - ALLAT...
Atlanta, GA
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Debe Maxwell, CRS
Charlotte, NC
3,416,322
I ook for a copy of an account with enough money for the purchase or a letter from a local and trusted bank. I also look at lines of credit and letters from known hard money lenders for some.
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Michael Jacobs
Pasadena, CA
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
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Candice A. Donofrio
Fort Mohave, AZ
554,600
A key part of getting proof of funds is getting proof that the funds are LIQUID. Too many times, I'll receive a stock fund statement or a retirement fund where these funds would need to be sold in order to get the cash. Sometimes when a buyer realizes there are taxes and possibly penalties for selling stocks/funds, they don't do it.
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Michael Jacobs
Pasadena, CA
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
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Candice A. Donofrio
Fort Mohave, AZ
6,617,246
Piles of cash are nice, but a letter from your bank will often do the job.
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
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Candice A. Donofrio
Fort Mohave, AZ
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Diana Dahlberg
Pleasant Prairie, WI
2,227,216
Bank Statement no older than 30 days or a letter from a financial divisor that can verify the information you need.
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Bob "RealMan" Timm
Minot, ND
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Peter Testa
Danbury, CT
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Anthony Acosta - ALLAT...
Atlanta, GA
8,077,103
A bank letter.
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Michael Jacobs
Pasadena, CA
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
773,005
Their Account statement or a letter from their bank on bank letterhead stating that they have $ X amount of dollars.
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Bob "RealMan" Timm
Minot, ND
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Anthony Acosta - ALLAT...
Atlanta, GA
748,520
A bank statement or a letter from a bank manager/financial advisor that the buyer has sufficient funds to purchase the property at the offered price.
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Bob "RealMan" Timm
Minot, ND
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Candice A. Donofrio
Fort Mohave, AZ
536,943
A Bank letter. On Bank Letterhead.
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
4,434,227
1,412,015
A copy of a current bank statement will do nicely. I have also accepted letters from the buyer's banker attesting to the adequacy of a certain amount of funds on deposit.
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Bob "RealMan" Timm
Minot, ND
1,529,754
Bank statement or copy of a cashier's check.
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Bob "RealMan" Timm
Minot, ND
1,257,608
Bank statements.... Those blah blah out of the area Capital Investments I have a bad feeling. I want bank or wealth management statements. August is probably OK but they need to send you the latest in 24 hours...
A few homes here require proof of funds before showing....
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Bob "RealMan" Timm
Minot, ND
719,551
Many of the answers provided here. The acid test: verifiable, current documentary evidence of liquidity owned and at the disposal by the buyer that matches or exceeds the funds required to close the transaction. A matter of buyer disclosure. Anything otherwise is fraud.
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Bob "RealMan" Timm
Minot, ND
2,239,490
A letter from institution holding the funds
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Bob "RealMan" Timm
Minot, ND
4,800,282
A letter from the bank or financial advisor.
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Bob "RealMan" Timm
Minot, ND
5,418,717
A large good faith deposit and a letter from a bank institution with accompanying current account statements
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Bob "RealMan" Timm
Minot, ND
652,663
Current Bank statement or letter from their financial adviser w/ verification of funds to close.
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Bob "RealMan" Timm
Minot, ND
5,060,496
What even the clients wants. I don't set the requirements, I am just the agent.
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Bob "RealMan" Timm
Minot, ND
1,642,807
Bank statement usually, no older than 2 months. Or any legal document( letter from a bank for the mentioned amount, an attorney confirmation, a financial document of the asset they are liquidating, etc.)
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Bob "RealMan" Timm
Minot, ND
3,913,381
Bank statements that are currant. I have also had a signed letter from their attorney that funds will be available at settlement.
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Bob "RealMan" Timm
Minot, ND
1,272,827
Letter from bank or bank sheet.redacted of numbers .
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Bob "RealMan" Timm
Minot, ND
5,960,724
A statement within 30 days showing institution, name of buyer and amount. Just closed a deal where the agent said she has NEVER had to present proof of funds for a cash deal. Goodness, never heard of that before!
509,499
3,986,423
1,745,502
1,761,025
We have accepted a letter from a bank holding the funds to confirm they are there.
532,960
A letter from the bank that states that the buyer is able to purchase the property at the accepted offer price. Address of the listing must be on the letter and provided within 3 days of the accepted offer.