Correctly doing the financial section in a board package is a key element to progressing to a closed sale. The top 5 things you will need to do in this section of the board package are:
1) Create a spread sheet of all you assets, line by line and present a snap shot of what you are about to show in the package. For example you would break out all you cash in banks + total, stocks and any other accounts. You would list bank, last 4 digits of account number and total of the statement you are providing.
2) Add to the spread sheet in number 1, you post closing liquidity as pertaining to how many months mortgage and maintenance you will have liquid + you debt to gross income ratio (mortgage & maint vs gross income)
3) You will identify if you earnest money deposit (10%) has been removed from the statements you are providing for the package and if not – you will make the subtraction on the spread sheet to show the current balance.
4) You will fill in the whole financial statement. Stuff that is empty, you will put in 0.00 or na and you will fill out every field.
5) All the totals you put into the financial statement will match to the penny, the sum totals of you back up statements. For example if you have 100.25 in cash, the bank statements you provided will add up to that number
6) You will create sub dividers so to differentiate which statements pertain to which sections. This will make reading and comprehending the section easier.