Great Question Andres,
As you can read, "Cash Only" can mean ANYTHING!
It can mean:
1. Home owner wants to remove appriasal contingency.
2. Home onwer wants to remove inspection contingency.
3. Home owner wants to eliminate third part approvals from contingency
4. Home owner want a smooth closing without interference
5. Home owner want to close rapidly
6. Home owner wants to create negotiation advantage
7. I have a perfectly selleable condo in excellent condition and will pass any appraisal and inspection. It is cash only due to a recent roof replacement of all building in the complex. This $870,000 project was billed to the association at $900,000. Association refused to pay the $30,000 over billing and is working the suite through the court. Meanwhile the builder placed a lien on the entire association. A bank will not lend in such a situation.
By the way, it may mean the prefer cash, but may indeed accept bank financing with stipulations.
Let your real estate professional be your guide in situation like this.
Best of success in acquiring your new home.
ReMax Realtec Group
Palm Harbor, FL
727. 420. 4041