Bank asking for cash only deals

[Sam Bader]

I’m looking at a single-family residence in Chicago, IL 60633 the property needs $10,000 in cosmetic repairs and the bank is asking for a cash only deal? What does that really mean?

[Josh C.]

Non refundable bigger earnest money that’s not contingent on financing will likely cure any bank concerns over financing issues. Write normal offer but with 10% EM that’s non refundable after a short inspection contingency and have no other contingency. I’ve had luck with this. But I very confident I could get financing, so you’d like a good bank relationship.