Posted by Jim IL on April 19, 1999 at 17:27:21:
Having NEVER bought a FNMA property before, I too had that question.
I recently looked at a FNMA home that was listed for sometime, and was preparing to make a low offer, all cash.
The listing agent, then told me about the addendums required and that “funding verification” was needed.
She faxed these to me immediately.
After reading everything over TWICE, I see NOTHING that says I need to “prove funding”, UNLESS it is to be financed. In other words, my all cash offer is just that and should be put in.
They only wanted “proof” that I was approved for a mortgage, IF I was using one.
I will then attempt to “flip” this deal.
I’ll let you know IF I get any flack over no “proof of funds”.
(that is, IF my offer is accepted).
And, if you’d be so kind, keep us informed as to your progress as well.
Good luck to you,