Does using a HML mean my offer can be presented as ”cash”?

[Mandi Martinez]

I have only flipped one property (I got it from a wholesaler) and I am looking for my next property. I have gone through a good number of real estate agents and can't seem to find one that understands that I use a hard money lender. Can I present the offer as cash? Meaning can I tell my agent that the offer is cash even though I'm using a hard money lender? Is this dishonest? The problem is there are some great properties that say "cash only offers", I'm assuming because they want a no hassle quick close deal, which I can also do with a HML. I want to make offers on those properties, is it possible or do I have to say I'm "Finanacing"? P.s. go easy on me, I am so so very new to this. :)

[Wayne Brooks]

First of all a hard money is a Loan. Cash, is money you Already have in Your name somewhere in an account....which is what a POF is.

CONTRACTUALLY however, the farbar contract under “cash purchase” does allow for you to finance it, but not allow for a financing contingency.

PRACTICALLY however, a seller looking at a "cash" offer expects to see Your POF. Sometimes though, the reason for "cash only" offers is due to the property condition not qualifying for traditional financing....hard money Would be appropriate but the seller knows that the HML must still Approve the deal for it to close.

If you are positive of your ability to fund it, put up a large EM, 10-20%, to motivate them to accept your offer.  If you not confident you fund it, stay away from reo’s and educated sellers.