An all-cash offer means the buyer proposes to purchase a property without relying on obtaining a mortgage or other financing (offer has no loan or financing contingency). While it’s called an “all-cash” offer, it doesn’t require physical cash payment; rather, the buyer assures they have sufficient funds available to complete the purchase. This type of offer often includes a clause where the buyer agrees to pay a penalty if they fail to provide the promised funds at closing, ensuring the seller of the buyer’s financial commitment and capability to follow through with the purchase.