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Updated almost 3 years ago on . Most recent reply
Hard money didn’t count as cash offer
We just tried to put in a cash offer on a house, only to find out that our hard money loan could not be consider a ‘cash offer’.
My question is twofold…
1. Is this normal?
2. If this is normal, why in the world would anyone use hard money and pay the points, fees, and high interest instead of just using conventional financing?
Most Popular Reply
Jay Hinrichs
#1 All Forums Contributor
Professional Services
#1 All Forums Contributor
- Lender
- Lake Oswego OR Summerlin, NV
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Jay Hinrichs
#1 All Forums Contributor
Professional Services
#1 All Forums Contributor
- Lender
- Lake Oswego OR Summerlin, NV
does not matter if its hard money or a bank its still financing your up against TRUE cash buyers. ANdyou only pay points and fee's at closing unless your working with a scammer asking for these things up front so dont fall for scammers.
- Jay Hinrichs
- Podcast Guest on Show #222
JLH Capital Partners