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How much should the listed price of a home drop for a cash purchase?

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December 03 2011 - Hickory
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Profile picture for Happydays4you
I think it depends on how quickly you close, I am a novice so this is my opinion.
 Arent most home purchases considered 'cash' once they are financed. I  would think its it is more important to have offer the seller a fast closing and not ask them to fix up every dang thing in the house. right? 
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January 08 2012
The listed price won't change, the question is how more appealing to the seller will a cash offer be than other offers. It depends entirely on what the seller is looking for.
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December 04 2011
It might sell for 2% less(more or less) if cash, compared to a highly levereged less qualified buyer. It all depends.....
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December 04 2011
The list price will not drop for a cash purchase.
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December 04 2011
Depends on how motivated the seller is, put yourself in their shoes, do they need to quickly sell, then a quick closing can contribute to their reduction of the sale of the home. There are so many factors here. It really depends on the home, the seller. Work with your Realtor, do your homework on local area prices, Hickory's market is not as strong as ours in Cary/Raleigh. A cash offer here would only help with a quick close, you still want to use the due diligence period for inspections, right?
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December 04 2011
Difficult question as it depends on the situation.

1.) Is the listing price at or bleow (or above) market price

2.) Who is the seller.....ie person, bank,,,,,,short etc...

3.) Are there other offers on the table?

These are just some of the factors that play a role in this answer. Cash offers obviously throw out financning contingencies, but it does not mean there is not an appraisal contingency. Again case by case. I hope that helps some

"Its a Good Life"
Shane 
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December 03 2011
Home inventory in Northern Virginia currently favors sellers in the negotiation process. There is no hard-fast rule or formula for cash discounts. The only guarantee you have with a cash offer is it will always win favor with the seller over financed offers that have the same offering price. Cash offers remove all financing contingencies, require a much lower closing cost contribution (if requested from the buyer) by the seller, and allow closing to occur after 5-10 business days instead of 30-45 days for the time required to get a loan package together and signed by the underwriter.

Sellers will consider accepting discount offers for cash deals depending on the amount of time the home has been for sale, the level of interest by other potential buyers, condition of the home (investors like fix-and-flip properties), need to liquidate the property. Answering a question of how much of a discount you can receive for offering cash always depends on the position of each seller.  
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December 03 2011
Profile picture for wetdawgs
Usually the major advantage of cash is that the buyer doesn't include a financing contingency, therefore, a seller may chose their offer over one with a financing contingency.   (As a cash buyer, I'd still recommend an appraisal contingency).     There does not tend to be a discount for cash where I live, but I don't know the NC climate.

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December 03 2011
 
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