in most cases, investors will need proof of funds in order fund their quick flips and we are excited to provide this for investors.
Salt Lake City, UT (PRWEB) August 07, 2013
Foreclosure University announces that they are offering proof of funds for investors. No doubt this news is very exciting for real estate investors as more and more banks are requiring proof of funds in order to weed out those who are not serious about buying.
Go here to get proof of funds letter.
According to Jarad, owner of Foreclosure University, proof of funds are a must have when buying properties from banks. "Anymore these days, banks are requiring buyers to show they have the funds available to close. While there may be a few exceptions to this, in most cases, investors will need proof of funds in order fund their quick flips and we are excited to provide this for investors."
When investors request proof of funds, a letter is provided for the bank letting them know that cash is available for funding the transaction. The investment must be a quick flip where an end buyer is in place to fund their side of the transaction.
Proof of funds can offer a tremendous advantage for investors. With proof of funds, the investor can now make all cash offers which is a huge advantage over those who need to secure financing through conventional ways.
It also works hand in hand with transactional funding. So the money is used for a very short period of time to facilitate the transaction between the seller, which is commonly the bank, and the buyer. The fees are very small and it's less of a risk for investors.
Proof of funds can be obtained for both residential and commercial properties. There are no minimum requirements as to how much can be requested. As long the address and name of the company is provided, investors can get proof of funds.
Proof of funds can be used for all types of transactions. Short sales and REO's are very common because banks require the buyer to have the money available to close. "Without a proof of funds letter, it's tough to get a short sale approved. It's the same with REO's," says Jarad. Banks may not look at the offer seriously if investors are not able to provide proof they have the funding to back up the offer.
Foreclosure University is excited to provide proof of funds for investors in every state. Those looking to request proof of funds for short sales, REO's or any quick flip, can visit http://www.foreclosureuniversity.com