Cash buyer with no contingency

Profile picture for jkuo
I'm a cash buyer looking for a home.  I'm keeping my current home as a rental property so there will be no contingency.  How much is that worth compared to other buyers with bank loans and/or contingency?  What if the seller is motivated?  I'm looking to put together a fair offer on a house soon.  Thanks!
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June 22 2010 - US
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Answers (4)

Profile picture for DunnRealtors.com
If you are buying a house with all cash, you may be able to get a better deal simply because the sellers know you won't have to jump through bank hoops to get financing.  It won't change the deal drastically, but it may make for a smoother ride.
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June 23 2010
Profile picture for Dallas Ft. Worth PRO
Cash is king.  You will very likely get a better deal because you don't have the financing contingencies.  It also depends on the price range of the homes.  Is it a first time home buyer range?  may be the sellers will feel that they are taking less of a risk by accepting less.

Get a buyer's agent to represent you who knows the market well and will guide you accordingly.

Good luck,.

Naima
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June 23 2010
Profile picture for RyanHalset
Chances are that you can (at the very least) save the seller from having to make another mortgage payment. That, paired with the fact that you can close quickly & offer a more certain closing with less potential "hiccups" may save you thousands with your offer.

I do agree with the previous post though that there's no way to know until you make an offer - but you are certainly in a better position than other potential buyers...especially if the seller is motivated by a certain time line.
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June 22 2010
There is really no way to answer this question. Some sellers may care a lot, others it may make little difference to, compared to a well qualified buyer with a loan.

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June 22 2010
 

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