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Updated about 8 years ago on . Most recent reply

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Cory McCormick
  • Engineer
  • Sebastopol, CA
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Cash offer use financing?

Cory McCormick
  • Engineer
  • Sebastopol, CA
Posted

I am escrow with a cash offer. Can I still do conventional fianacing? or other options?

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Jessica Zolotorofe
  • Attorney
  • New Jersey
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Jessica Zolotorofe
  • Attorney
  • New Jersey
Replied

You absolutely can, unless your contract prohibits it. All you are bound to is having to close on the scheduled closing date and not being able to terminate if you can't get financing, i.e. you have no mortgage contingency and if your financing falls through you have to be prepared to close in cash or lose your deposit. But we do it all the time. If the seller gets their price on their closing date, you can get the money to close the transaction from anywhere you want.

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