Can I make a cash offer? Jordan Brewer
If you have the cash, there's no law against making a cash offer. However, there is very little protection which comes with making an all-cash offer. In order to protect your earnest money, it is generally a good idea not to make a cash offer. A general rule of thumb as you begin making offers is to make sure that you place a contingency in the contract upon financing and inspection. That way, if funding falls through, you will be able to recover your earnest money and move on to the next deal.
Make sure you are not marking "cash offer" on your contracts. You will want to mark "hard money", "private financing," or "private lending." If you plan on making a cash offer, DO NOT use a proof of funds letter as verification of your capital.
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