When you sell a personal asset such as a car or boat to raise money for a down payment to buy a house here is what you will need to show the underwriter to use the funds…
• The ownership of the asset (proof)
• The transfer of ownership of the asset with its sale, such as a bill of sale or a statement from the
purchaser
• The receipt of the proceeds of the sale, such as a deposit slip, bank statement, or copy of the
purchaser’s check
That’s it for today!
Have a good day today! …and thanks for reading.
Brett
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