Ok, the bank wants to see POF for my SS, before proceeding or even accepting my offer price. I have the funds personally to show the bank but I want to know how will this affect me doing a double closing? I haven’t found a end buyer yet and I was planning on using the buyer funds to purchase the property. Or could I get a preapproval letter from my broker just to show them POF to continue the short sale. If i get a preapproval letter from the bank even though I am trying to wholesale the house to another investor, how will this affect my ss?
We have use a copy of our company’s bank statement (with the account number marked out, of course) to show POF.
Then when we actually closed, it was a double closing to one of our rehab investors, so we did not use the money from our bank account and it has never been a problem.
Don’t know if that helps.