CASH OFFERS AND PROOF OF FUNDS LETTER
Hello World,
I have been doing research on "cash" offers as an investor and the results I have came up with is a "cash" offer can be consider any funding that is or has the ability to be liquidated without contingency from a bank; i.e. hard money, private money or your own cash. Is this correct? However, I was speaking with my real estate agent today and they mentioned that I could not offer a "cash" offer if the cash is: 1) Coming from a third party and 2) The cash offer has to come from my approved bank account. Is this correct? That said, there has been some confusion set in and I am looking for clarity on: 1) how to go about a "cash" offer? 2) Define what a "cash" offer is?
With all of that being said, does anyone have a legal soft proof of funds letter (pre-approval) that is editable and will work in all 50 states? If not, how can I go about obtaining something like that or can I even obtain a soft proof of funds letter?
Connected to this email is a link of a soft approval letter- does this work? if not, what needs to be done for it to work? Or again, how can I can one that works in all 50 states that is approved by different brokers?
I want to thank you for your time and your guidance on this topic
Thanks,
Jon Lane