Where Can I Get Proof Of Funds Letters?

Short Sale Offers Require Proof Of Funds Letters

In order to make an offer on a short sale and start serious negotiations with the bank for a discounted payoff, the buyer is expected to deliver a “proof of funds letter” or bank statement showing the buyer’s ability to pay for the purchase (usually without a new loan so you get a better deal from the bank).

FAQ: “Where can I get a proof of funds letter for a short sale? - I heard that I can do short sales without my own funds or credit. Is that true?”

Answer: Yes, you can structure short sales as an investor so that you only put up very little earnest money, and since you will be closing with your buyer’s funds, there is no need for good credit or cash on your part.

Proof of funds letters are provided by private lenders who offer transactional funding. You structure the sale so that you buy the house from the seller in a short sale, and then resell it immediately to the end buyer.

One such program is available from Home Seller Assist. You can generate instant proof of fund letters automatically in your back office at Home Seller Assist. The process is quite automated. You just fill out an online form with your name , the address of the property and the amount required, and the system automatically generates the POF letter.

To learn more about the Private Funding programs at Home Seller Assist, fill out the little yellow form on the top right. This will take you to our private web site that you can use to access the private funding programs and sign up for a FREE trial!