hi everybody i am a new member hope everyone is doing well i have just started doing short sales and one of the bank asked me for proof of funds when we get ready to close do i get that from the title company where we are doing the double closing or how do i get around that
part of the deal. Thank you so much for taking the time to help me out :help
A title company doesn’t give a proof of funds. The proof of funds can be a bank statement from your bank. It needs to show that you have the amount needed to close. The other option is to get a pre-approval from a lender and you could use a hard money lender for your pre-approval.
Get a proof of funds from a hard money lender. They can usually give you one in minutes.
thank you so much for help, i greatly appreciate your tip i will start working on that immediately.
You could get it from the title company if you have deposited into escrow the funds… Typically it comes from the source of the funds… VOD or Commitment Letter from Lender…
Congrats
Michael Quarles