Any lenders or services who enable real estate clients to make cash offers?

[Richard E.]

Esteemed listmates,

I have a couple of RE clients who are going after properties which are the types of properties that cash investors are snapping up. Value add, lower price point, up and coming hoods- these guys are getting zero traction on conventional offers for the stuff they are after. 

I have seen services advertised which allow people to make cash offers. Curious if anyone has any experience with these services, or if there are lenders who do this? and for real estate agents- wondering if its even ethical? 

[Wayne Brooks]

@Richard E. It’s an oxymoron, simply not possible. A cash offer means you Already have the cash in an account in your name. People claiming any lender can let you make a “same as cash” offer are just BS.

[Eliott Elias]

There are loan products out there that allow you to make a “cash offer”. Get with a mortgage broker that has a wide range of products.

[Brett Deas]

Many hard money loans are "cash offers". 

[Bobby Feinman]

@Richard E.

Before I became a full time lender, I was a builder and f&f guy for over 20 years. So, I have a lot of experience with making offers. This is what I did and this is what I advise my clients:

           Make your offers to read "Cash or Existing Credit Line" 

I, the lender, am the existing credit line and can provide proof of funds letters as well. This is looked on much more favorably by sellers than saying the needs to obtain financing to buy the property.

Hope this helps!

Bobby