CASH OFFERS AS A INVESTOR AND MORE

[Jonathan Lane]

Hello,

I have been looking into what does "cash" offer mean as an investor and through my research came up with: "cash" offer can be consider 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 right? BUT- I spoke with my real estate agent and they mentioned that I could not offer a "cash" offer if the cash is:

1) Coming from a third party

2) The cash offer has to come from my approved bank account. Is this right?

With all that being said, confusion has set in and I am looking for clarity on: 1) how to go about a "cash" offer as an investor? 2) How do we define what a "cash" offer is?

Connecting to the idea of "cash" offer, 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 that is editable?

Linked to this post is a soft approval letter- does this work? if not, what needs to be done for it to work? Or again, how can I obtain 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

Soft Proof of Funds Letter

Thanks,

Jon Lane

[Odie Ayaga]

I would not say cash is equal to hard money. Many sellers may accept it as such and not know the difference, but you still need to qualify for a hard money loan and if you fail to you won't have a financing continency to back out of your deal.