Proof of Funds
The intended use for the POF (Proof of Funds) or VOD (Verification of Deposit) letters is to give you, the investor, a document to provide to the necessary parties involved in your real estate transactions to show you are either pre-qualified or have the funds to purchase real estate when doing a back-to-back closing (or extended back-to-back closing) and using our services to fund the “A to B” portion of the back-to-back closing.
We are not responsible for any misuse of this letter. 5% fee for a POF. The fee is waived if we fund your project.
Verification of Deposit
If you think an available balance statement that is hand-stamped by a branch employee can help you, then read on.
This VOD service is meant for those imminent transactions where the only thing holding up your deal is a VOD to prove that our company has the funds available and a screen print or monthly bank statement is just not enough. We will personally drive to the bank for you and get an available balance statement from our branch that is actually hand-stamped by a branch employee. The VOD available balance bank statement in our company name will be the latest VOD produced within the past 30 days.
Best of all, you may use this VOD available balance statement as often as you wish. Please keep in mind that it is dated. Additionally, we will waive the transactional funding processing fee for this property when you close.
The fee for this service is 5% and is non-refundable. We may be able to go higher than $200K should it be required for additional fees. The VOD will be sent to you within 48 hours after payment is received.
Our commitment to you is to help you as much as we can to make your transactions successfully close. Please let us know if we can help you with anything else.