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Updated over 8 years ago,

User Stats

62
Posts
3
Votes
Jeffrey Hayes
  • Investor
  • Tucson, AZ
3
Votes |
62
Posts

Proof of Funds letter for only Sale Price amount?

Jeffrey Hayes
  • Investor
  • Tucson, AZ
Posted

Hi everyone, quick question, I'm putting an offer in on a REO property today and bank is requiring a proof of funds letter. I've provided one to other banks before for other purchases but is it a good idea to only get the proof of funds for my initial offer amount which is $78,000? I might go a little higher if they counter but I'm thinking it's not a good idea to show them how much I have so they might try and raise their asking price for me. On the other hand I don't want to be going into the bank every day for a proof of funds letter for different amounts for different houses I'm bidding on. Any advice would be great! Thanks, Jeffrey Hayes

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