What dies it mean to be Cash buyer

Question

This might be a dumb question but I keep seeing people refer to themselves as cash buyers, especially those who plan to whole sale the property. If you’re using hard money to buy the house, are you still considered a “cash buyer”?

David M. · Answer

@Katia E Carmona

I wouldn't advertise as a "cash buyer" if you are using hml. Its still technically a loan contigency. In my mind, a cash buyer is somebody who has the liquid cash/equity to complete the transaction. That is, they have the money and don't need to ask somebody else for it so they have "complete" control over the transaction.

I'd be happy to chat if you would like. Good luck.

Duane Alexander · Answer

The point of mentioning that you're a "cash buyer" is not to portray that you'll be dropping off a briefcase of cash to someone to purchase their house. It's a short way to make the point that you'll buy their house without any of the usual contingencies that usually come with conventional bank loans and that you can close fast.

Jonathan Greene · Answer

Cash buyers have cash in their own bank account.

Hard money and lines of credit are cash-adjacent, not cash. They fund as cash, but are predicated upon a loan. 99.9% of wholesalers are NOT cash buyers.

Katia E Carmona · Answer

@Duane Alexander ok yes this is more what I was referring to. So can I say I’m a “cash buyer” even if I’m using hard money? Like when you do direct mail or signs?

Wayne Brooks · Answer

No.....cash buyers Have the money, no loan needed.

What dies it mean to be Cash buyer

What dies it mean to be Cash buyer

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