A question for the pros here. I am looking to buy my first property and to make the offer, my agent is asking me for something that proves I can make a cash offer.
What are the typical documents I would need to show?
Because I am living overseas, I do not think a letter from my bank written in German would be any help.
Do you have a bank statement that shows the funds? That is what I have used on multiple occasions. Are you actually paying cash or are you getting a HML? if so, show your proof of HML approval.
A letter certifying it can be wired and available in US funds into a US based bank that has foreign origin.
Locally, we have India State Bank, Hong Kong Shanghai Banking Corp (HSBC) that depositor can have any currency he wants as long as it is cashable $. WE have East West Bank those with an account can get mortgage loans w/o documentation.
I don't show any special documents or even a bank statement when making cash offers. They don't need to see all of your transactions (which are typically listed on a bank statement) for the month. It can actually be be much more simple than that.
All I do to show proof of funds when making a cash offer is take a screen shot or printout of my online bank account summary, making sure that it shows my name and that the total available balance is higher than my offer. That's all they need to see.
ok thanks everyone. I went the screenshot route to get this done.