“Cash” Offer Vs Hard Money - Same?

[Matthew Hull]

How are you writing your offers when they are funded with hard money?

My realtor and I recently put a cash offer  on a house, but in reality I plan to fund it with hard money. There is no “hard money” purchase option in the realtor offer forms, so cash kinda makes sense, but there is a spot for “other,” which maybe is a better spot?

The problem with a cash offer using hard money is it still has to go through their underwriting and there is a 3 week turn-around, so the deal would fall through if something didn’t work out. Or, I’d have to get an extension of the closing date, which kinda defeats the purpose/competitive edge of a cash offer. Also, if they are expecting I have the cash to back up the offer, but I turn around and say, “Hey, my funding isn’t ready yet,” or it falls through completely, they’d probably feel a little bamboozled and unhappy. 

If the underwriting goes smooth and I can have the cash on hand at closing, then maybe the owner wouldn’t care how the cash offer is funded. 

What do you do for this scenario?