Cash Buyer Definition

[Olivia Radziszewski]

Hello fellow BPers,

I am a bit confused, from what I always understood a cash buyer.... buys whole sum of cost of property in cash. My financial advisor recently told me that I am a cash buyer because I have $40,000. Only that would be for down payment and closing costs and potentially any work that needs to be done. 

I just want clarification because now I am looking at a property that interests me that says cash buyer only, and do not want to make any moves until I have a better understanding of the definition of cash buyer. 

Thanks!