But I'm An ALL CASH Buyer...Doesn't That Make Me King?
Cash is king...isn't it? Yes, it is...generally speaking. However, it doesn't necessarily apply to all real estate transactions and it is a common misconception among some all cash buyers who may be thinking of entering the real estate market. Investors who are actively buying real estate in Roseville, Rocklin, Lincoln, Loomis and Roseville, CA already know that simply being an all cash buyer doesn't necessarily mean you'll have access to securing any investment property you want at a bargain price. The truth is, there are many cash buyers out there and there is a lot of competition for properties that provide a good rate of return on your investment.
(Photo courtesy fiveinchpixie ~ flickr)
CASH IS KING IF...
...You want to buy property at trustee's sales. In California, you need to have cash in order to bid on properties being sold at the trustee sale auctions (unless prior arrangements are made).
...You are buying a condo in a complex that doesn't qualify for financing, but only if you're the only buyer making an offer. Remember, any other competing buyer will most likely have cash, as well.
...You are a buyer in a multiple offer situation and are offering the same price/terms as other buyers who are not all cash. When dealing with bank owned properties however, the outcome can sometimes be unpredictable.
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