If you are looking to invest in Tampa’s real estate market, you have picked a great time to do so! There are many communities with great investment potential to help establish your real estate portfolio and create a solid retirement plan. Bank REOs and HUD homes are just a couple of the avenues to begin your search.
Are you paying CASH for real estate? When paying cash, showing proof of funds is very important and is often a deal breaker. This can be provided in one of two ways:
- A Printed Bank Statement Showing the Current Balance (please blotch account number with black/magic marker), or
- A Letter From Your Personal Banker, CPA, or Attorney (this method may take longer)
Failure to provide the needed proof of funds with your cash offer will prevent serious consideration of your offer. Starting a deal out with undermined credibility is not an auspicious beginning. The following items will not be considered as a proof of funds.
- Impending Lawsuit Settlement, Inheritance, or Lottery Winnings
- A Line of Credit Pre-Approval from Another Property
- A Promise of Proof of Funds Once Deal is Executed
- Verbal Assurances from your Agent That You Have the Money
In today’s market the saying, “the early bird gets the worm” holds true. In most cases, a great real estate property/investment bargain is under contract in less than seven days. Having all of the resources needed to make a prompt and solid offer is key to avoid losing out on a great deal. If you are eager and ready to secure your investment, call or email me today. I look forward to discussing your investment future in Tampa’s Real Estate.