Hard Money / Offer Contingencies

[Michael Thornton]

Wondering how to approach finance contingencies when working with hard money. I assume that when making an offer, it wouldn't include the traditional contingencies (bank financing) but wasn't sure. Are investors indicating a cash offer even though they are receiving financing after all? Thanks for the input. Want to make sure I'm representing the offer in a true way while also showing strength with a quick close, etc.

[Brandon Battle]

There is an ongoing argument about this subject.Even though hard money financing is fast( 3 to 5 days),it is still financing.If your seller is represented by an agent they will know you're lying about having all cash when you delay wiring the money into escrow for 5 days or more.Real cash buyers deposit the money within 48 hours normally after opening of escrow unless there are other contingencies to deal with first.Be straight with them when you are negotiating in my policy.If it's gonna take you 7 days or more to get to the closing table,tell them that immediately so they know what they're getting into.