It’s no secret – there are a lot of all cash buyers in the market. Some of these buyers are investors who pool their funds, some come from out of the country, but others are average folks who have made decisions about how they will accomplish their home buying goals.
In a hot market like we experienced last year in the Tri Valley (Livermore, Dublin, Pleasanton, Danville, San Ramon) low inventory and plentiful buyers drove the competition up considerably. Those looking to downsize or move-up had to strategize about the best way to approach their move.
Some decided to sell first, so they would have cash in hand in order to write an attractive offer for their replacement home. Others, liquidated investment funds to make the purchase, selling their primary home after the fact and then reimbursing those funds after close of escrow. Some get the idea that ALL cash offers are from very wealthy people and offshore investors. While that is true in some cases, it’s not true in all. Those with a goal and a plan position themselves for the best possible outcome, and that often comes with sacrifice.
Cash is but one variable in an offer to purchase. The others are terms, timeline and contingencies. Understanding the nuances of these other components can also serve to make your offer more attractive to a seller.
Read more about terms, timelines and contingencies.
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