You can sell an asset to generate cash for a down payment. …such as a boat, car, etc.
Here’s how to structure it for a mortgage…
You must create a bill of sale reflecting the date of sale, asset to be sold, and the sales price.
The buyer’s and seller’s signatures are required on the bill of sale.
Copies of all checks, and deposit slips are also needed.
A picture of the item sold is also helpful.
That’s it for today!
Have a good day! …and thanks for reading.
Brett
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