Hello, I’m Vaughan de Kirby. And today we’re going to talk about source of funds. This is a very very important aspect of EB-5. Specifically in this particular video, we’ll address the sale of a piece of real property. Now even before we start listing the items that we’ll need in order to establish the sale of the property as the lawful source of funds, I want to remind you that when you’re going to use a piece of property as the asset that you’re going to use to sell in order to obtain the funds to invest, you must also show the lawful source of the funds to acquire that property. So that means you are going to have to go back to when you purchased that property, and show how you obtained the funds that you used to make that purchase, but now let’s take a look at our chart and we’ll go over some of the documents that you would need if you’re going to use the sale of a property as your source of funds.
Alright, to begin with, you’re going to need the property purchase contract when you purchased the property. The property sales invoice. The tax deed certificate. The property ownership certificate. The mortgage contract, if in fact you had a mortgage on the property. And the settlement of that mortgage, if in fact you have paid off that mortgage. You’ll need documents evidencing the lawful source of funds that you used to purchase the property. You’ll need the contract for the sale of the property to the individual that’s purchasing it. The evidence of taxes paid on the sale of the property. The deposit or transfer slips for the payment of the sales proceeds from the buyer of the property to you, as the investor. You’ll need your bank statement, which will show that the funds from the property sale went into your account.
Now I know that’s a lot of documentation. You’ll work directly with your immigration attorney. Perhaps some of these documents won’t be required, but you want to discuss them directly with your immigration attorney. I hope this is helpful.
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