Proof of funds are very important as a buyer in search of a new home. In a world of scam artists, showing documentation that you actually have the ability to buy is what you need to be taken seriously. Occasionally, clients of mine have been resistant to providing such information for privacy reasons. However, many sellers require real proof before they will open up their luxury home for a showing.
There are ways to keep personal info private by providing a signed bank letter testifying that you have sufficient funds rather than an actual bank statement. In this case, be prepared to have your banker contacted. My office calls and confirms all proof of funds on behalf of our sellers before confirming the showing request. For more information, check out this article.
Written by: Daniel Bortz
Published by: Realtor.com
Photo Credit: DNY59/iStock