Proof of Funds letter for only Sale Price amount?

[Jeffrey Hayes]

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

[Wayne Brooks]

It's an irrelevant concern. I'm sure they just roll their eyes when they see a POF for the exact amount of the offer....if anything, it probably makes them more suspicious. Clients often show hundreds of thousands of dollars when buying $80k properties......it doesn't mean they're willing to pay more, just because they have more.