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Updated almost 12 years ago on . Most recent reply

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Marcus Staples
  • Chandler, AZ
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Cash Purchase

Marcus Staples
  • Chandler, AZ
Posted

Does using a hard lender for funds constitute a cash offer? I hope I'm asking right.

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Matt Devincenzo
  • Investor
  • Clairemont, CA
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Matt Devincenzo
  • Investor
  • Clairemont, CA
Replied

Yes you asked right.

No cash is money in your name your bank account. The money being in your name is required when you show a proof of funds.

A HM loan is still a loan albeit with different terms and conditions than a traditional mortgage but still the lender could pull their funds is they so chose.

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