"Cash" Confusion

[Account Closed]

"Cash" in the real estate realm seems to be a relatively simple concept, but I'm often confused as a newer investor because I feel as if the term is thrown around often but has a different meaning for different instances. I'd like to once and for all be completely clear on what the word "cash" means in the following circumstances:

I want to purchase a property on the courthouse steps and need to have "cash" within 24 hours transferred to the selling entity. In this instance, can I have a hard or private money lender pledge/prequalify me with a note saying that "cash" is available for purchase? Or does there need to actually be "cash" equal to the amount of the property purchase price in a checking account in which I control?

When purchasing a property from a motivated seller or wholesaler for "cash," can I again use private or hard money to count as "cash" for the purchase?

Is a pre-qualification or pledge by a lender that funds are available at my disposal good enough for the "cash" identifier?

When you hear the term "cash buyer," does that mean that the person has mountains of cash lying around specifically used to acquire property? Or are they using non-traditional financing to buy their properties and then refinancing with other types of products since closing with hard and private money typically require less days for closing?

Thanks.

[Rocky V.]

A courthouse step purchase here in TX requires cashier's checks within minutes of sale.

Most hard money lenders and private lenders will require a deed of trust and title insurance before loaning on a property so using their funds at the courthouse is not possible.  You can use these sources when dealing with motivated sellers which I would encourage you to go after.