Hard Money: Contract First or Money First?

[Carrie Smith]

I want to make an offer on a bank-owned 'cash only' house. I was hoping to have an approval from a hard money lender in hand before making the offer. But, the lender wants to see the contract before they even start on the approval process. So what happens if I make the offer, it gets accepted, and then the lender says 'no' to the financing>

[Odie Ayaga]

Hi @Carrie Smith yes I could recommend lenders, but it sounds (unless I'm misreading) like you should check directly with the bank whether they would accept hard money first. To banks more than any other "cash" can mean "cash" and hard money is not cash; you still have to qualify for it. Before you waste your time elsewhere finding a lender, and submitting a contract I'd hammer that piece down first.