Buy with cash to lower purchase price?

[Danny Woodring]

My wife and I have the opportunity to purchase a fixnflip. We were advised by the listing agent that if we make a cash offer the seller would drop the price by $20k. We have the means to make the offer and to complete the rehab but that would leave us pretty strapped. Our thought is to buy the property cash and then get a loan from a bank to put our initial investment back in our account. Would this be a wise decision? This is also going to be our first deal so any advice would be greatly appreciated.