Will HELOC be considered a cash buy?

[Jeremy Hackenberg]

Hello total newbie question,

If a seller is requesting cash buyers only, will my approved HELOC be considered since I don't have to wait for financing?

[Account Closed]

Originally posted by @Jeremy Hackenberg:

Hello total newbie question,

If a seller is requesting cash buyers only, will my approved HELOC be considered since I don't have to wait for financing?

 You are correct. If you can write a check to cover the purchase and closing you are a cash buyer.

[Jeremy Hackenberg]

@Mike M.

Thank you!

[Ryan Hoover]

@Jeremy Hackenberg

Yes @Mike M. is correct. If we are talking about writing an offer on a property, the seller will require proof of funds for the contract. Which proof of the line of credit may be sufficient, or in a worst case you may need to transfer the funds to a bank account prior to being considered.

[Daniel Schiller]

@Jeremy Hackenberg yes. “Cash buyers” just means non-contingent on 3rd party financing.