Definition
Bank statements or other documentation proving a buyer has funds available for down payment and closing costs. It's verification the buyer can actually afford the property. Essential for evaluating offer strength. Cash proof matters.
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Proof of funds includes bank statements, investment account statements, or loan commitment letters. Essential for cash offers and earnest money verification.
Pro Tip
Require proof of funds within 3 days of offer. Lack of funds indicates potential deal failure.
Example
Bank statement showing $150,000 available funds for 20% down payment and closing costs.