Startups that let you do this. Flyhomes and ribbon. General idea is you pay a little more and they get you a “cash offer”. Not 100% sure how they work.
Not really using cash in a cash offer. From reddit, “They’re providing proof of funds via assets they don’t actually plan to liquidate to purchase the home. EX: I put in a cash offer, proof of funds via my 401k. I am getting a mortgage” I’ve heard OpenDoor has a “cash backed” offer.
Loan against assets.
I’ve heard of people getting loans against their 401k and/or stock portfolios. Is this a new thing? Is it via margin loan or is there a new financial vehicle. I would like to know more about this and what happens if the portfolio falls.
