Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. 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.
Innovative Strategies
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 almost 10 years ago,

Account Closed
  • Homeowner
  • Signal Hill, CA
70
Votes |
521
Posts

"cash offer" without real Bank VOD (ie, original statement) aint really a cash offer, is it?

Account Closed
  • Homeowner
  • Signal Hill, CA
Posted

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