Lighter Side of Real Estate
MAY 12, 2025
Real Estate Owned (by a lender) HDW 3. Proof of Funds FDR 1. Central Air Conditioning REO 3. Hardwood Floors POF 3. Formal Dining Room FROG 3. Finished Room Over Garage SFH 2. Single Family Home FFBR 2. First Floor Bedroom DET 2. Detached EIK 3.
HomeLight
AUGUST 31, 2020
You are typically required to have cash in hand (a cashier’s check and/or proof of funds) for the purchase price of the house and usually cannot get a mortgage loan for the property. At this point it is now called a bank-owned or real estate-owned (REO) property. Source: Dan Meyers / Unsplash).
The Close
DECEMBER 29, 2022
Proof of funds. Clients should be aware that proof of funds is different from pre-approval from a lending institution. Buyers with all-cash offers still need a proof of funds letter, but for the entire amount. These funds must be liquid, not stocks or bonds. Real-estate owned (REO).
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