Most sellers ask for proof of funds as part of the contract, it shows the seller that a buyer has the means to perform and that they should be take the buyers offer seriously.
We have made offers without them, usually clients who are already in Florida and have not or can’t put them together until they get back home – but it’s most definitely in your best interests to include them with an offer. Many sellers, especially banks will not look at an offer if they are not included. So without them you could be putting yourself at a disadvantage.
If there are several offers on a property or you are working to get a better deal, proof of funds can be the difference in the decision making process of which offer the seller will accept.
Proof of funds can be considered a tool that can give us additional leverage to negotiate you a better deal, it’s as easy as asking your bank manager for a letter or even just printing off a current statement from your online accounts to show you have cash assets to cover the offer.
If you intend to finance you will want to secure a per-qualification letter from your mortgage broker. A seller won’t accept a financed offer without one. Many realtors may not assist you if you intend to finance and have not gone through the qualification process so if you intend to take out a mortgage – make getting a per-qualification letter your first priority.
The Jerry Barker Group can assist you getting you per-qualified through our finance associates should we be representing you in the purchase of your vacation home.