SHOW Them The Money! When buying a Santa Clarita home, you’re already familiar with the concept of coming up with a down payment, but did you know that you need to show your proof of funds along with your offer?
Let’s say you’re buying a $400,000 home, and you have 20% to put down. That’s an $80,000 down payment.
When your agent submits the offer on your behalf for the Santa Clarita home, they’re going to ask you to show proof of funds – AKA proof that the money is in one of your accounts now. If the money is being gifted to you from a family member or someone you know, your agent will need a letter from that person stating they’re gifting you the funds; possibly even a statement with their name on it, too, showing they in-fact have the money.
Taking It Off The Market For You
When a seller of a Santa Clarita home takes their listing off the market for you, that’s a serious thing. They begin to STOP entertaining other offers, rightfully so as they’re pursuing YOU as the buyer. Right? Well, they won’t take it off the market without verifying that you in-fact have the money you say you do for your down payment. Some buyers seem surprised when they’re asked for proof of the funds. It’s best to have that ready at the out-set of your home search here in the SCV.
What You Need For Your Santa Clarita Home Offer
Here’s what I suggest you submit with your signed contract/offer:
1) Loan approval letter if financing a home loan
2) Proof of funds for your down payment
3) Copy of your deposit check written to the seller’s preferred escrow company (it’s just a copy of it), or your agent’s brokerage
4) A “Love” letter to the seller with a photo of you, your dog, your family, or whoever it is that’s meaningful in your life…. state the reasons why you want to buy the seller’s home, and how well you’d take care of it, and why they should chose your offer vs any others that they may be considering. Put some thought and heart into it. They work!
Ready to make an offer on a home in Santa Clarita? Need a real estate agent to help you? ASK Robert! You can reach me anytime @ 661-373-2374
