What does cash buyers only mean when buying a house?

I've been looking for a house on apps I have on my iPhone. I've never bought a house before. When it says "cash buyers only can you not still get a home loan from the bank or do you have to have the full amount? I know this might sound stupid to ask but the realtors I've spoke with about the house won't even show it to me and say "it's cash buyers only"

Cash is cash - full amount needed, no mortgage, no loan. The seller doesn't want to wait around for a mortgage to be approved or possibly fall through.

Buyers pay with cash.

It means your offer can't contain any loan contingencies, either because you have the full amount already available or you can have it by the time of closing.

Other than that, nobody cares where the "cash" comes from, since the ordinary purchase of a house involves the seller getting paid the full amount at the time of closing, whether from a bank's loan officer or with a suitcase full of greenbacks.

The question from the seller is, "How do I know you're not going to try to back out at the last minute, if you don't have the money?"

No you can't get a loan on it… Cash buyers only means that no mortgage company will loan on it, often because there's too much work that needs doing, so its value is low… So you can to purchase with the full amount of your own money… These properties are purchased by people like property developers/ builders as investments, to do up and sell on or rent out…

Cash means just that - Cash in the bank right now that you can take out and hand over to the seller. If you have to get a loan the seller's don't want to even consider you as a buyer for their property. What this tells me is the property would not pass for a collerateral. Collerateral is the house it's self that is securing the loan - If someone can't pay a loan back the bank foreclosure and resell it to get their money back.

Most investor's will pay cash for a home, fix it up and then turn around and sell it for a profit.

Just because you see it on an app doesn't mean it's registered with a realtor or on the MLS, it could be a private sale. Maybe too realtors don't want to get involved. This does mean cash only but sounds like something shady to me (although it might not be) like take your money and run, or that something is wrong with the house and they want to get out from under it, or they're being forclosed on or the house has been in a floor, or is an old house that's crumbling, or even that someone has passed away, or whatever, you just don't know and won't know unless you do a lot of sleuthing. You don't want to buy somebody else's problem. When a person buys a foreclosed home that the people owed back taxes on then you might have to pay their back taxes to get that home. Also something could be wrong with the title. When you go thru a real estate agency they will check the title for you to make sure it's free and clear.

Ok, so you've never purchased a home before, well first of all you have to determine from your income and savings if you are able to buy a home. Then you'd go apply at a bank or mortgage company and check the mls (you'd need a real estate agent or a realtor and a lawyer whose specialty is real estate) and then the bank or mortgage company would first determine if you meet the qualifications, and then would loan 80% of what the home is assessed at and you'd pay the balance of 20%. You'd have to have home insurance when you sign a contract and in some areas it's difficult to get. You'd need home insurance and maybe flood insurance too (which is sky high these days). When they figure what monthly payments you'll be paying the bank or mortgage company they'd figure PITI (principal, interest, taxes and insurance) so you'd want to be in that home more than 10 years so you'd start having some equity in the home. So the bank or mortgage company would provide you with a letter and you'd take that letter to your real estate agent or realtor and they will find you a home that's the amount you're approved for, or lesser in cost if you want that (and that's a good idea to do) and get a 30 year loan.

Cash Buyers only usually mean a fast sale and prefer no inspection or appraisal - or there's something about the property that won't or might not pass inspection - like non-permitted work or additions or the house is in poor shape and the asking price is above what an appraisal might come in at.

A friend of mine put 7 offers on small homes and cash buyers kept getting the contracts so she pooled all of her cash and borrowed more cash on her credit cards and became a "cash buyer" (with interest soon to pay) and bought a townhouse.