Would you write "cash" or "financed"?

[David Duval]

I have the cash to purchase most of the properties that I want to make offers on and I also have a preapproval letter from a reputable known HML that says that I have more than enough cash for their required down payment and that they can close in 10 days. I want to use hard money to finance the majority of these deals but I know that cash offers hold more weight.

So would you structure your offer as cash and provide proof of funds for the purchase price but then ultimately use hard money or would you be more up front and show proof of funds and the letter from the HML and structure your offer as financed?

Thanks for any replies.

[J Scott]

I sometimes do this, and when I do, I have a stipulation that essentially says, "This is an all-cash offer and proof of funds are attached. There is no financing contingency. Further, buyer has the right to switch to financing prior to closing. Buyer will pay cash if financing is not available or if buyer chooses not to switch to financing."

Sometimes sellers tell me I have to choose one or the other upfront, in which case I will just pay cash, and then refinance later if I want to.