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Updated over 5 years ago,
ALL CASH OFFER (But I have a pre-approval letter)
So I put in an offer on a house for $75,000 ALL CASH. I plan on getting that cash from a Hard Money Lender. When my agent asked me for proof of funds, I sent them a pre-approval letter from my Hard Money Lender. Now the Seller's agent is questioning, if I'm paying ALL CASH, why do I need an approval letter?
We tried explaining the process of getting a Hard Money Loan, but either she doesn't understand, or maybe I don't fully understand. But we told her that the seller will get their money in cash, no matter where or how I get it.
What am I doing wrong? And how do I get past this Contract phase? Because I really want to just get this house under contract and move on before it gets too cold out.