Free Proof of Funds And Proof of Funds Letters
August 17th, 2013 by Jarad
Free Proof of Funds Letters
As you invest in real estate, one of the many things you will come across is proof of funds. This is just one of those pieces you need especially when you are doing any sort of quick flip where a bank is involved. The banks whole purpose in requiring proof of funds is to make sure you, as the investor, actually have the money to close your side of the transaction. They just want to make sure you are a legitimate player.
Can you blame them? What would you do if you were selling a property and you had two offers come in – one that would pay all cash, close on the date of your choice and backed it up with a bank statement, or one that needed to get conventional financing with no proof of funds letter? It’s obvious which offer you’d accept even if it was a lower offer.
In a nutshell, proof of funds are designed to give the banks confidence that you do in fact have the money to perform on your end of the deal. In fact, in some cases, proof of funds letters are not good enough anymore. Sometimes you will be asked for a VOD or verification of deposit which is an actual bank statement showing you have the money. Don’t worry, we can provide those too if they are needed. Most of the time, a simple proof of funds letter will suffice.
The proof of funds that we offer works together with our transactional funding. So the exit strategy must be a quick flip to an end buyer. We are not a hard money lender, so if the exit strategy is fix and hold or fix and flip, you’ll need to get funding from a long term lender. This could be either through a hard money lender or private lender. You could also try to partner with someone on this. If the numbers look good, you shouldn’t have a problem with finding a partner. You could easily go to your local investment club in your area and find someone there. If you don’t have a local investment club, it might be about time to start one yourself 😉
There are a ton of advantages being able to get proof of funds for your deals. I would say the biggest advantage is you now become a player. Without proof of funds, it’s almost impossible to do any kind of wholesale transaction like REO’s and short sales. On occasion it may slide, but that would be the exception and not the rule.
With proof of funds, it also gives you confidence. You know that you always have funds backing you up on your quick flips. It can be used on REO’s, Bulk REO’s, Short Sales, Probate and Wholesale deals – commercial or residential doesn’t matter. When obtaining proof of funds, we won’t ask you to verify income or run a credit check. Our biggest concern is the end buyer. Cash buyers are ALWAYS the best. There is a little more red tape when it comes to buyers who need to qualify for a loan, which is why they need to know exactly how this works.
How Do I Get Proof of Funds?
In order to get a proof of funds letter, all you need to do is fill out a watch this video. It will exactly how you can request unlimited proof of funds all backed by us. All proof of funds requests will be reviewed and then sent back usually within 24 – 48 hours. At any time we may call you to verify any of the information. Unfortunately we do not offer blanket proof of funds letters. They all have to be property specific. Even in the case of bulk REO’s, you’ll need to give us the property addresses.
Now go out there and make those offers.
Let me know how it’s going.
October 1st, 2014 at
i need pof letter to close on a loan..however it is a loan to start a business and we are doing a lease purchase. The bank wants funds just the business profitability..
October 1st, 2014 at
Unfortunately, this won’t work for what you are trying to accomplish.
October 9th, 2014 at
I need proof of funds to secure a contract with a seller and to avoid having to put a earnest money deposit…
February 27th, 2015 at
Support;
I am trying to send for information on setting up POF letters for my business but the site is invalid according to the mail delivery system. Please advise.
Mike Secor
February 28th, 2015 at
@Mike… I’m not sure what you mean. email us support@foreclosureuniversity.com and we’ll see if we can help you.
March 10th, 2015 at
I am a real estate investor and I need proof of funds letter.
Thank you
May 20th, 2015 at
There are a few links above to get our proof of funds. Please understand these proof of funds letters are for quick flips only. There are not for rehab deals or personal residences. We only provide proof of funds for those deals we feel meet our criteria and we can actually back them up with money.
March 13th, 2015 at
Require Proof of Funds Letter to secure contratcs on flipping REO’s distressed residential properties here in Michigan, Florida and California.
August 19th, 2015 at
Awesome information! So many people misunderstand POF letters and their intent. They are not guaranteed funds; however, they are necessary to attach w/ an offer on a property otherwise a asset manager, who is likely the person taking your hard money offer, will not acknowledge your offer against similar competing offers. It’s not conventional and that throws people for a loop. Thanks for sharing!!
September 25th, 2015 at
I am from Indonesia, I need proof of funds of property projects to investors from Thailand.
send me email.
thank’s
February 15th, 2016 at
I need proof of funds to secure a contract with a seller and to avoid having to put a earnest money deposit…
February 24th, 2016 at
If you need proof of funds go here
June 22nd, 2016 at
Request for POF for a property im looking at
Prince James.
May 9th, 2017 at
go to http://www.foreclosureuniversity.com/fastcash
April 1st, 2017 at
We require a usd 5 Million proof of funds letter to enable us bid for a real estate project in Nigeria. Let us know if you can help.
May 14th, 2017 at
I am looking to do a proof of funds letter for investors. They want to make sure there are other investors in the firm. Will this work for me or is what you do specific to real estate?
May 18th, 2017 at
We are all investors. Most of the people who we work with and provide these letters for are investors. So maybe I’m mis-understanding your question. These letters will work for anyone in any state. We don’t care where the deal is, as long as it’s in the US. Commercial or residential, we don’t care. It just has to be under $600,000 and meet our buying criteria. If you want to learn more about the criteria, go to https://www.foreclosureuniversity.com/fastcash
September 12th, 2017 at
I need a proof of fund letter to wholesale realestate tranactions to end buyers.
March 11th, 2018 at
Great!
You can get UNLIMITED PROOF OF FUNDS LETTERS at your fingertips all backed by us. You just need a membership. Go to https://www.foreclosureunivesity.com/fastcash
September 7th, 2018 at
NEED PROOF OF FUNDS LETTERS TO PURCHASE PROPERTY
HAVE MONEY THATS TIED UP BUT I NEED TO SHOW PROOF OF FUNDS NOW