Reply to What does "all cash" mean?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]B.

No mortgage is involved so no unforeseen circumstance (as in bank denies mortgage if the appraisal comes back less than the offer ...).

Yes, you have to provide bank statements with the offer.[/quote]

OP here. Could I provide the bank statements, and waive the financing and appraisal contingencies, then still turn around and get a mortgage? That would still make me "all cash", right? Maybe it makes no difference, but it seems like sellers are increasingly obsessed with getting an "all cash" offer. I guess I'm just trying to figure out if lots of these "all cash" buyers show the assets on paper, then just turn around and get a mortgage.[/quote]
You would not be a cash buyer in this case. Cash buyers can close much more quickly than a mortgage buyer. What you are describing is a mortgage situation. Doesn’t matter that you have enough in the bank to buy in cash. The fact that you are going through a bank means that you are not all cash.[/quote]

no, OP would still be considered a cash buyer, unless they needed to delay close to allow for financing concerns.

as long as they can show the assets and the money shows up in the settlement attorneys escrow account the day it is supposed to, no one cares which account initiated the wire.[/quote]
Wrong. If OP is getting a mortgage, she is not a cash buyer. Does not matter how much money she has liquid. If she's going through the mortgage process, she's buying with a mortgage, not with cash. [/quote]

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