Profile picture for user8978622

Discount for paying cash and closing info

We are buying a condo and each one has been on the market over 60 days.
What percent should I take off the offer for paying in cash?

Also who usually pays for the closing?
  • June 03 2014 - Myrtle Beach
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Answers (4)

These are all realistic answers. Sellers typically enjoy cash buyers more due to a quicker closing, no appraisal necessary, and less factors for the deal to fall through.

One thing to remember is that asking prices vary in relation to the true market value of that area. What I mean by this is that some asking prices may be asking 20% over market value, right at market value, or the rare below market value. If an asking price is listed BELOW market value you shouldn't be expecting to get much more, if any, off the asking price.

The Realtor of your choice will let you know where the asking price is in relation to the market value.
  • June 11 2014
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Profile picture for wetdawgs
Discount for cash - none.   Cash carries a competitive advantage when there are competing offers at a similar price.

Who pays for closing ?   Usually most of it is paid by the buyer.
  • June 04 2014
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There is no automatic discount for CASH. You negotiate each deal the best you can
  • June 04 2014
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Profile picture for DianaLWatson
Condos in Myrtle Beach on the market for over 60 days is somewhat normal and not a real sign to make huge under asking price.  Speak with a Realtor in that area or email me for Coldwell Banker agent in that area.  An agent in the area would need to do some research to see what best offer to present.  Also cash deals are not what they used to be although it does have advantages.  In a multi offer situation, obviously cash would win over financed offer as it would be a quicker close and less fuss.  The best advice is to speak to a local expert who can negotiate the best deal possible. 

As far as closing costs, buyer and seller pay for their respective portions.  Since you are paying cash, there is a significantly less closing costs you would be pay for.  Most of my cash buyers i usually negotiate for the seller to pay for their costs.  Feel free to contact me through my profile.  
  • June 03 2014
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