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Why Does My Real Estate Agent Want A Proof Of Funds Letter?

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My real-estate agent (whom also is representing the seller on this particular property) is asking us for a Proof Of Funds letter. Is this unusual? Why should we let the representative of the seller know how much money we have in the bank, as I think that would impact our leverage in negotiations because the seller and the sellers agent will know how much we could possibly afford? Opinions?

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