Hi Msa77.

In California's contracts, you can elect to either provide the proof of funds (via bank statements...I white-out the account numbers) before or after the acceptance of the offer. The seller can require that they see this information before accepting or rejecting your offer. Are they being VERY difficult? Yes. This would frustrate me as well, but there really is nothing you can do. You can call their bluff; however, you will leave the door open for anyone else looking to make an offer on the home. If you choose to follow the seller's requirements, white-out or cross out all the sensitive information.

Your concerns that the seller will use your bank statements against you are well founded; however, it seems you won't be in the ball game without presenting them. You should be able to come up with a way to represent your financial situation in a positive light without coughing up more dough. You can strengthen your offer by reducing contingencies or shortening the close of escrow date among many other options.

I disagree with Chris, if you refguse to provide that information, we will not negotiate with you. We need to know if you are qualified. Especially in Coops a Mortgage preapproval is only a small part of it. Buildings have more strict requirements than banks, we need to know your debt to income ratio, liquidity, income broken down by salary, bonus and investment.
A properly presened offer includes:
Amount of offer
Percent Down
Financing Contingent or no (or is it Cash)
REBNY Financial Statement
Pet Information
And if any of the money is a gift
We expect that you have checked your own credit (Possibly through 'freecreditreport.com') so you know if it is good, giving the score helps strengthen you offer.
None of the information I mention leads to ID theft, that is ridiculous, You have given no account numbers, SS#s, bank statments or security statements. So there is no information to use to steal. You will be required to provide all of that, with backup and account numbers with the purchase application later, which will be given to the managing agent and the board members. As any agent in Manhattan would know.
You are worried they will look at yoru income as a negotiating tool, IE "They can afford more" This is just not how it happens. I have sold studio apartments (as Pied A terres) to people making over $10M a year; if anything we wre more liekly to take a slightly lower offer from a more qualified buyer as we know it will fly past the board.
The only time I don't ask for all this, is if the offer is so low we are just going to say 'no response' so we really don't care and want to move on as fast as possible. If a buyer refuses to provide the information, we will not negotiate with them.

Msa77,

Your mortgage professional has the ability to analyze your income, assets and credit and run an automated credit decision through FNMA or FHLMC. That underwriting process is the basis for your mortgage approval. IF THE SELLER DOESN'T ACCEPT IT, THEN GO ELSEWHERE!

NEVER GIVE YOUR CREDIT REPORT OR PERSONAL FINANCIAL INFORMATION TO ANYONE!!! Your mortgage person has your permission to obtain your credit report but neither you nor the mortgage person should distribute it to any person, including attorneys and realtors! Do you know that this seller is an honest person? None of really know for sure.

The reason is simple...YOU ARE EXPOSED TO IDENTITY THEFT!!! It may not occur now but certainly at a later point in time it could happen to you. The people you send it to may be honest but can they vouch for all their contacts? IMPOSSIBLE...

According to the Federal Trade Commission, during 2007 in this country, 4 PEOPLE PER SECOND were victims of identity theft. These were the people that reported this crime. How many others don't even know that they were victims? How many didn't report that they are victims? Having been a victim please keep in mind that the victim is guilty until you can prove your that you are innocent!

Buying a new home is a great experience. Good luck with this process.

DEAR POTENTIAL HOME BUYER MSA77! I DON'T THINK SO YOU NEED GIVE YOU INCOME INFO AND CREDIT REPORT TO SELLER, BUT YOU NEED GIVE HIM MORTGAGE PRE APPROVAL WITH AMOUNT OF MORTGAGE YOU BE ABLE RECEIVED FROM BANK.IN CASE IF YOU RENT PROPERTY THAN OWNER CAN REQUEST CREDIT REPORT AND YOU INCOME. IF YOU DO HAVE MORE QUESTIONS, PLEASE DO NOT HESITATE CALL ME DIRECT AT 2018384838, VERY TRULY, VALENTINA AVED ''VILLA VALENTINA REALTY'' http://WWW.VALENTINAA.COM

In this market, many home owners are asking for more information. There are still unscrupulous lenders who tell borrowers that they are qualified, when they really are not. It is not unreasonable to ask for the information.
If you are afraid that the owner will use your income against you during negotiations, then have their real estate agent speak with your mortgage broker and clarify FICO scores and the type of mortgage that you are applying for. Proof of income can come after the negotiations of price.