Your impression is wrong. "Cash offer" means there is no 3rd party loan involved...

PaulDavisThe1st on March 18, 2022 | parent | context | favorite | on: How Zillow's homebuying scheme lost $881M

Your impression is wrong. "Cash offer" means there is no 3rd party loan involved. Obviously, if someone's aunt is lending the buyer money, nobody is going to catch that. But "cash offer" absolutely does not mean "secured financing".