Writing up an offer

[Rich Hupper]

Hi bp. I have a family member funding my investing with their heloc. I am wondering how i should write up the offer(s). They do not want to be on title. However their name is the only signer on the heloc account. The proof of funds letter from the bank, references them.

Can i sign as the buyer on the offer form or must they? I fear if i sign the offer form and the seller sees them on the proof of funds letter, the seller will then want something in writing saying they are gifting me the money.

Anyone have experience with this?

[Jeff Copeland]

It's really up to the seller as far as what they will accept as proof of funds. 

Why would you "fear" providing a cover letter from your family member whose name is on the HELOC stating that they are backing you and you are good for the money? If there's no lender involved in the transaction, gifted funds should not be an issue.