Do I need proof of funds or a pre-approval to make an offer on a home?

Yes, proof of funds is required by the seller and is to be presented with the offer so you should be prepared with documents having the portion of your purchase which is cash and if financing a pre-approval letter from a lender.

For the cash portion, a certified letter from your bank or copy of your investment/banking account(with the account numbers and personal information blacked out or other verifiable depository or a current balance statement will do. This must be no more than 30-days old.

If you intend to finance any portion of the transaction, you'll need a pre-approval letter.  If you need assistance with a reputable lender in the area, I can help. Most of the time, we can have a pre-app in just a couple days time.

Don't wait to find the home of your dreams and not have these documents in place, a day or two gathering them could mean another offer being accepted before we can submit yours. The market is very strong and some properties sell the day they are put on the market so being prepared is in your best interest.

The best deals are those that move quickly so be ready!

Cathy Starkweather
Realtor & Vacation Home Specialist
cathy@jerrybarker.com / 01.407.274.8476