Cash buys certainty and speed. A cash offer removes the financing contingency and the appraisal risk that comes with it, which is why sellers often accept a lower cash number over a higher financed one. If you are competing for a scarce property, cash is negotiating power.
Financing preserves liquidity and can make sense even for buyers who could write the check, because it keeps capital free for other uses. In the luxury segment, lending is its own specialty: jumbo programs, private banking relationships, and portfolio loans all behave differently than a standard mortgage.
There is also a middle path: close in cash to win the property, then place financing on it afterward. Which structure fits depends on your liquidity, your tax picture, and how competitive the specific property is. Rangely will tell you how a seller is likely to weigh your offer structure; the tax and lending specifics belong with your banker and tax advisor.