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Updated about 5 years ago on . Most recent reply

User Stats

105
Posts
25
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Andres Bernal
  • Orange CT
25
Votes |
105
Posts

Proof of funds in a Connecticut deal

Andres Bernal
  • Orange CT
Posted

I found super slam dunk deal here in CT. I'm going to make a cash offer and I have an investor with the funds that I'm going to fund the project with. Since Ive bought all my rentals with conventional mortgage I'm a little lost. 

I have couple of questions, 

1. When I'm making the offer, what kind of proof of funds from my investor is acceptable for the sellers realtor?

2. Can I make an offer with my name only, use my private investor proof of funds and then create an LLC with him and close under the LLC?


Thank you guys!

  • Andres Bernal
  • Most Popular Reply

    User Stats

    5,752
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    Michael Noto
    • Real Estate Agent
    • Southington, CT
    3,860
    Votes |
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    Michael Noto
    • Real Estate Agent
    • Southington, CT
    Replied

    @Andres Bernal Having submitted a lot of cash offers in the same market you are, it is best to provide a bank statement with liquid funds that minimally equals the offer amount. Preferably more. This will make the sellers take your offer seriously. 

    • Michael Noto

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