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Is Cash Really King When It Comes to Your Home Purchase?
Is Cash Really King When It Comes to Your Home Purchase?Accepting an all-cash offer from a buyer who has the means to purchase their home certainly has its advantages for the seller;-Quick Closing
-No contingencies(in some cases)
-No worries of financing falling apart For the cash buyer;-No out of pocket expenses related to obtaining a mortgage-No interest charges for the months to comeInvestor buyers will also look at their return on investment and look for positive flow.Cash buyers often do not get appraisals, they work with Realtors they can trust who runs comps for them so they know exactly what the house is worth.If you are a home buyer purchasing a home in all cash, should you low-ball? Think about it, what difference does it make to a seller whether you are a cash buyer or financing other than a quick closing and a sure one. Although many sellers would prefer a cash offer over financing, they still would want to net the same amount. Why wouldn’t they?Example 1- List price $290,000, three offers come in. One is cash $220,000 to close in two weeks, one is a conventional loan for $295,000 to close in 30 days, the other is an FHA loan ... more

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