This is a YouTube video titled "Trick to Sourcing your Earnest Money!" containing a single-speaker explanation about how to quickly source earnest money deposits using bank statements and transaction histories, created on October 7, 2023. The content provides a practical financial tip related to home buying.
Let's say you just put your earnest money deposit down in your new home. But your bank statement comes out at the end of each month. So it's going to be possibly a couple weeks until that bank statement is available. Here's a little shortcut. You can go to the previous month, get that bank statement, and then get what's called a transaction history or a transaction log to extend off of that previous month's bank statement and to account for the earnest money being deposited. So the trick is go back to your previous bank statement, get that, look at the last deposit on that bank statement. That's the day you want to start your transaction history and then account for every day from then until when the earnest made up deposit came out. So that could be a week, it could be a couple weeks. But this is your extension off of your bank statement. The couple things the transaction history has to have is either your name or account number that ties it together. So that's your same account has to have the dates and the running account balance after each transaction. And it has to have the URL that's the www.bankname top or bottom. With all of those, this is a little shortcut to source your earnings money that much quicker.
