We have frequently received requests from clients to prepare a “Certified Statement of Assets & Liabilities,” otherwise known as a “Certified Statement of Net Worth.” These are common requests from banks, mortgage companies, lenders, landlords, and other types of parties that require some assurance from the client. We have noticed a large volume of requests for this type of document from mortgage companies.
The general outline is that a financial statement is made for the client outlining their major holdings. Holdings can include brokerage accounts, money market accounts, cash, gold, real estate, interest in a business, and many other types of investments or items of value. These items are listed along with a value of their worth. Sometimes, valuation techniques may be necessary if it is required that we estimate the value of a business interest or real estate item.
After the assets are compiled, the liability portion is also broken out in detail in the Statement of Net Worth. Liabilities include such items as long-term loans, credit cards, notes payable, pending lawsuit settlements, etc.
The assets portion is netted against the liability portion to create a Statement of Net Worth. This statement is then signed off by our CPA, at which point it is certified. Some lenders ask for this to be done with a notary.
We have successfully completed many such reports and have helped our clients get into homes in Texas, California, New York, and many other locations. Please feel free to contact us anytime at (866) 705-9239 by phone or text – you can also email us directly at firstname.lastname@example.org and we can get to work on your Statement right away.