In this video I go over what the proof of funds document is in an offer package and why it is important that you have one when presenting an offer on a property in a highly competitive environment like the San Francisco Bay Area real estate market. The term “proof of funds” is referring to documents like bank statements, brokerage account statements, or any other documents that prove you can afford to pay the down payment for a home you’re interested in. Usually you will have a pre-approval letter that comes from the bank which states that they will loan you a certain amount of money to purchase the house. By adding a proof of funds document you are showing that you can afford the difference between the amount you are pre-approved for and the purchase price, plus closing costs. When buying a house in the San Francisco Bay Area which has homes receiving multiple offers regularly, providing clear documentation showing the seller and their agent that you can afford the house and will follow through with the purchase you are separating yourself from the competition and demonstrating that you are a serious buyer and they should more strongly considering selling to you. 📍 Subscribe for more videos about home remodels, real estate tips & tricks, and also our recent listings in San Mateo and San Francisco! 👉🏼 Check out our website for buyer/seller tips and listings! 🔹 https://www.homesbyrise.com 👉🏼 Check out my socials to follow latest listings and deals! 🔸 https://www.instagram.com/joepolyak/ 🔹 https://www.facebook.com/joepolyakrisehomes 🔸 https://www.linkedin.com/in/joepolyakrisehomes