{"id":7743,"date":"2023-03-23T13:37:17","date_gmt":"2023-03-23T18:37:17","guid":{"rendered":"https:\/\/www.morty.com\/resources\/?page_id=7743"},"modified":"2023-04-10T12:22:47","modified_gmt":"2023-04-10T17:22:47","slug":"sales-proceeds","status":"publish","type":"page","link":"https:\/\/www.morty.com\/resources\/mortgage-manual\/assets\/sales-proceeds","title":{"rendered":"Sales Proceeds"},"content":{"rendered":"\n
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Sales Proceeds<\/h1>\n\n\n\n

An overview of what you will need to provide to us if you are using the proceeds from a previous sale for your down payment<\/strong>.<\/h4>\n<\/div><\/div><\/div>\n\n\n\n
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Resources<\/a><\/span> > Mortgage Manual<\/a><\/span> > Assets<\/a><\/span> > Sales Proceeds<\/span><\/span><\/div>\n\n\n
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Proceeds from the sale of any property, vehicle, or other large item (anything worth more than 50% of your monthly income) will require special documentation. As long as you can prove where the money is from, this should not be a problem for<\/p><\/div><\/div>\n\n\n\n

Do I need to do this?<\/h2>\n\n\n\n

Are you planning on using assets that came from a large sale within the last 2 months? A large sale might be a car, house, or anything greater than 50% of your monthly income. If yes, please make sure you have all of the following documentation. If you recently sold an asset but you do not need the money from the sale for closing costs, you do not need to document the sale.<\/p>\n\n\n\n

What do we need?<\/h2>\n\n\n\n

If you sold a property:<\/p>\n\n\n\n