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Updated almost 10 years ago,
"cash offer" without real Bank VOD (ie, original statement) aint really a cash offer, is it?
http://cashformyclosing.com/proof-of-funds/
the plethora of sites out there offering 'proof of funds' letters - some like the above offering proof of 'unlimited' funds for a low monthly 'subscription' really take the cake in what 'proof of funds' is apparently being belittled to.
granted, with id theft and bank fraud activity all around, most no one wants to be handing bank statements with account #s with every cash offer, to a state licensed broker let alone a property owner we know very little about. but hey, thats why we blot out the account # or part of it and so on.
oh well.. 'hard cash' isn't really necessarily cash anymore in real estate, but thanks to latest rei jargon, more likely just short for a private loan or 'hard money loan'. likewise now 'proof of funds' is apparently no longer just that, but just something-better-than-nothing to show in order to get ones foot in the door and/or get a 'cash' offer accepted with some sort of document to support it.. however trivial?
whats next.. 'transactional' bank VODs? =L