Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 10 years ago on . Most recent reply

User Stats

52
Posts
15
Votes
Jim Sokoloff
  • Real Estate Investor
  • Cambridge, MA
15
Votes |
52
Posts

Proof of Funds for a cash offer

Jim Sokoloff
  • Real Estate Investor
  • Cambridge, MA
Posted

Suppose I'm making a cash offer (no financing contingency) on a property. Reasonable seller is going to want some kind of proof of funds. Which of the following, if any, would suffice?

1. Current bank statement showing a checking account with that amount (plus some fudge factor) in it?

2. Current brokerage statement showing an investment account with that amount (plus some margin) in it?

3. Current brokerage statement for a margin account with that amount (+ margin) of "cash available to borrow"?

4. Current HELOC statement showing available line of credit sufficient to buy the property?

It seems logical to me that all four would be equivalent (perhaps a slight nod to #1, since everyone would understand that immediately), but I wanted to ask the question of how it works in practice.

Thanks in advance.

Loading replies...