Home Buying in 97123>Question Details

rose.gang, Home Owner in Hillsboro, OR

When a home for sale is listed as, 'cash only', does that mean a new loan needs to be originated? Do you, the potential buyer, originate?

Asked by rose.gang, Hillsboro, OR Fri Feb 15, 2013

the loan?

Help the community by answering this question:


It means only a cash buyer can buy the property, but sometimes private money loans will work as well. Ask your Realtor to check specifically about the properties you are interested in. Call/text us for more details.

Jennifer Peterson and Mandy Lewis
Keller Williams
0 votes Thank Flag Link Fri May 2, 2014
Rose, this usually means the home is not going to qualify for lender financing and most likely has some deferred maintenance issues that are pretty serious. Examples might include such things as well/septic issues, foundation and/or other structural issues. An FHA 203k Streamline loan might be a solution to check into if the needed repairs are under 35k.
Hope that helps!
0 votes Thank Flag Link Sun Aug 11, 2013

Cash only means that the seller will only consider offers where the buyer has cold, hard cash in hand, no loans, no financing. The reasons for this could be multiple and varied. I do agree that usually cash only is because the property will not finance for some reason or other. Your Realtor should be able to find out that information for you.

Best of luck. Feel free to contact me if you need more information.
0 votes Thank Flag Link Thu Feb 21, 2013
No cash only means only someone that does not need a loan can buy it. It will not finanance or they would not state that in a listing.
0 votes Thank Flag Link Fri Feb 15, 2013
The home does not necessarily have to be in unfinanceable condition. Seller may just preferred not to deal with the issues an offer subject to financing may present.
0 votes Thank Flag Link Fri Feb 15, 2013
A lot of times when it is listed as 'cash only' it means that there is something going on with the property that does not allow the property to be financed. Some examples of issues that would end up with a property listed as 'cash only' are; the HOA being in litigation, the property not being in good enough shape to be considered collateral for a loan, or it doesn't fit some other Fannie Mae guidelines.
Depending on the circumstances and the lender some properties that are listing as 'cash only' can be financed, it is best to assess these situations case by case. Feel free to contact me if you have a specific property in mind and we can take a look at it.
0 votes Thank Flag Link Fri Feb 15, 2013
I agree with Yanoska, and I will add that, it will make a lot of sence to have your agent contact the listing agent and find out what is the reason for the seller to consider "cash only" offers........If it has to do with the condition of the house, 203k rehab loan may be an option.
0 votes Thank Flag Link Fri Feb 15, 2013
Simplest answer is it is unfinanceable when they say cash only. No lender will loan on it due to condition of property or possible litigation.
0 votes Thank Flag Link Fri Feb 15, 2013
It means you can't get a loan on the property and so have to bring "cash" to the table to close. No new loan is possible.
0 votes Thank Flag Link Fri Feb 15, 2013
When a house is listed as "cash only" it means the Seller will not accept an offer subject to financing.
0 votes Thank Flag Link Fri Feb 15, 2013
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