[EB66]

> Where people come up with that kind of cash is beyond me, but they're coming up with it one way or another.

A "cash buyer" just means that the buyer didn't open a new mortgage to close the sale. Cash buyers often bring in cash from other interest-accruing loans -- such as HELOCs or portfolio loans. Foreigners or irregular income earners are a couple examples of people who might not qualify for a conventional mortgage and would need to tap into alternative loans to buy a house and thereby become a "cash buyer". Cash offers are also considered more competitive (they close faster), so someone might make a cash offer (via other loans) just to make their offer have a higher chance of succeeding.

[spondylosaurus]

Ah, that's interesting! And makes sense.