Profile picture for user446394

Can I get price reduction if I pay cash for a home ? What amount (%) ?

Thanks
  • August 25 2012 - US
  • 0
    0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.

Answers (6)

Profile picture for Ofe Polack
Yes and no!  How's that for an answer?  It is not only being a cashpurchase  but without any contingencies that wins the property.  The level of success varies depending on the DOM (days on market) previous reductions, comps both sold and active, condition and of course if it is a regular sale, or bank owned or short sale.  So now, you realize why I said, yes and no to your question.
  • August 25 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for pvhomes
You will robably get a reduction. Faster close. Sale is more solid without having to wait for a loan approval. Agent and Owner will be more positive on the cash offer.
  • August 25 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for Dennis Scott
That's a very good question and one that I get asked quite often in the San Antonio market.  If I'm selling a property and someone offers me a "discounted" all cash offer, my first response is, "they are all cash to me whether I get the check from you or your mortgage company".  

So saying that, the only way an all cash offer holds much weight with me is if you can couple that with an extremely quick closing; if it takes you a few weeks to a month to "count" all cash for me, I can wait for someone to get a loan and the mortgage company to write me a check for more money.

But if you tell me we can go to closing in less than a week, I may shout,  "Show Me The Money!"  
  • August 25 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

There is no set amount off that cash will get you, however, if the property has been on the market for awhile, sellers may be more willing to negotiate on their price. Other factors may include if the seller has already moved from their home and they need to get rid of it fast, how much equity, if any, they have in their home, and if they are selling it as-is. Any of these factors can make a person more/less flexible on their price. The best advice I can give is to do your research on the home before you make your offer. You can find out lots of good information from tax records, your agent's access to the mls, and by touring the home. Good luck!
  • August 25 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for WillWilcox
An all cash offer is certainly more competitive to a seller than one which requires financing, as it eliminates the possibility that a deal will fall through if a loan is not approved.  Depending on what is motivating a seller to list their home, an all cash offer may also help with negotiating price (i.e., if the seller's primary goal is a quick sale).  That said, there are no guarantees - but I would incorporate it into your offer strategy if you know you are the sole offer on a property.  In multiple offer situations there are a whole host of other factors to consider.  Good luck!
  • August 25 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for wetdawgs
If there are competing offers on a house for the same offer amount, the offer that is all cash with no financing contingency may win over an offer with a financing contingency.     Otherwise, there is no automatic guaranteed per cent reduction due to cash purchase.   (Do include an appraisal contingency in your offer.)

  • August 25 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.