3 ways to write a cash offer

Competing offers have subsided from record-high levels, but they're still common in Dane County's fast-moving real estate market. 

One way you can compete more effectively as a buyer is to write a "cash offer", or in other words an offer without a financing contingency. There are 2 key concepts to remember when you write your cash offer: 

1) Once your cash offer is accepted, you can still choose to close with a mortgage if you wish.

2)  You do need to provide documented "proof of funds" as part of your offer. 

What are some common sources that can be used as “proof of funds”?

Here are 3 different sources that you might consider: 

1) A letter from your banker or statements from your financial accounts. 

2) Verification of funds available from a home equity line of credit. 

3) Verification of funds available from a personal line of credit. 

Of course every client and every offer is unique. Strategies will vary, so we always recommend working with a savvy buyer agent who will help you put your best offer forward.