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Any_Advantage_2449 t1_j7meb6p wrote

Reply to comment by Cheap_Coffee in These housing numbers are insane. In some towns the cost to buy a house is 10x the average salary. by LopsidedWafer3269

Here is the deal. You can put in an offer saying cash. Have it accepted without having the cash and then by the closing of the sale get a mortgage to pay, it is still technically a cash sale. The people selling expensive houses don’t want a contingency of getting the loan. They won’t accept the offer, if you can get the loan and don’t have the cash you just say cash get offer accepted then go get the loan.

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HeyaShinyObject t1_j7mk6j5 wrote

Some buyers will ask for proof that you have the assets on a cash deal.

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thewags05 t1_j7n37yk wrote

I bought a house with cash after I sold my current house and they asked for proof I have or at least would have the cash

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Rockefor t1_j7niimk wrote

The guy who commented that saw a viral tiktok video that said you could do that. I asked my realtor if we could do that and he told me "absolutely not".

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thewags05 t1_j7nlc6b wrote

Even if you could it would be pretty risky. If for whatever reason you didn't end up getting the mortgage you'd lose your deposit at a very minimum. Worst case you would end up being sued.

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wittgensteins-boat t1_j7nll38 wrote

It is fraud to do so. Representing facts that are not true.

The seller can sue you for damages, and misrepresentation and for halting a sale that you could not fulfil on.

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Valuable_Bread1671 t1_j7nnlo4 wrote

No. If you really wanted to get the house with a mortgage but not stress the sellers out, you could waive your mortgage contingency. Nobody is going to put their house under agreement for a cash sale without proof of funds.

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