Closing costs Mortgage pre-approval letter Proof of funds 
Redfin
SEPTEMBER 3, 2022
Proof of funds (POF): A POF is a lender-issued document showing how much money a person has to cover the purchase costs. When purchasing a home, you may need a POF to show the seller that you can cover the closing costs, purchase price, and down payment. You may qualify for first-time homebuyer programs.
HomeLight
OCTOBER 11, 2022
Next: Consult our guide on who pays closing costs when selling a house by owner for more details. In Iowa, a real estate attorney is required at the closing table for FSBO and agent-assisted properties, and FSBO sales typically warrant legal and professional oversight of some kind to avoid an abundance of legal risk.
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HomeLight
MARCH 13, 2022
Next: Consult our guide on who pays closing costs when selling a house by owner for more details. Before signing anything, here are key considerations: Vet potential buyers by requiring a mortgage pre-approval letter or proof of funds. Close the sale — with professional help.
HomeLight
OCTOBER 1, 2022
Next: Consult our guide on who pays closing costs when selling a house by owner for more details. But that said, he urges FSBO sellers to ensure that prospective buyers have pre-approval and proof of funds. He says asking for pre-approval letters is key. Require everything in writing.
HomeLight
APRIL 13, 2023
Next: Consult our guide on who pays closing costs when selling a house by owner for more details. Make sure you understand things like closing costs,” he says. Your contract might read a 50-50 split of closing costs, but those don’t include any additional loan costs, which must be covered by the buyer.”
HomeLight
APRIL 26, 2023
Next: Consult our guide on who pays closing costs when selling a house by owner for more details. The first due diligence you want to do is make sure they have proof of funds ,” Graham recommends. Finally, a FSBO sale does not mean that a seller won’t need any professional assistance. Require everything in writing.
HomeLight
OCTOBER 11, 2022
Next: Consult our guide on who pays closing costs when selling a house by owner for more details. Here are key considerations when considering an offer on your Michigan home: Vet potential buyers by requiring a mortgage pre-approval letter or proof of funds. Require everything in writing.
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