Clear this up for me please

Hello all,

Very quick question for a dense person, if you have a second:

When purchasing an REO property with the help of a hard money lender, would you term this type of loan as a “cash purchase” to the agent/banks involved? Or is it still considered “financing” to them?

I ask b/c it seems the difference between the two can cost me either a 1% earnest money deposit, or 10% earnest money deposit ($8k).

Any advice is greatly appreciated!


It is considered financing.