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Yes, you will have some kind of negotiating power but your offer should be comparable to market value also. Low-balling an offer may not help even if it was all cash because there could be other qualified buyers interested who can put the 20% down, have a pre-approval, quick closing date and more favorable conditions. Hence if this was the situation the seller could opt for one of those offers and you will lose out for low-balling even with cash financing.
Most likely you could get it for a slight discount. However since you are paying cash you will have to do your own due diligence about owner occupancy, reserves, FHA approvals and appraisal. These are crucial because you always want to be able to resale it to give it value.
So often cash buyers think they will get a discount on a property because they are not obtaining a loan, so there is a lower risk to the Seller that the deal will fall apart. I'm here to tell you that for most Sellers all-cash offers aren't worth much of a discount.Of course the circumstances will vary depending on the market you're in, but in general if a Seller has to wait a few extra weeks to get more money in their pockets they will take the relatively slim risk of going with an offer that requires financing. At the end of the day they don't care where the cash comes from. They care about how much of it is going to end up in their hands.
I would say yes. This enables a quicker closing without the possibility of not getting a loan or funding. This does put you in an rxcellent negotiating position. Good luck.
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