Profile picture for nozz14k

cash offers

good or bad
  • January 08 2009 - Pottstown
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Answers (8)

Even if you pay cash, you still need to get an inspection and an appraisal. While a cash transaction is usually faster, it doesn't eliminate the need for things that will help insure the value of the property.
  • October 29 2009
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Cash offers hold a lot of weight against financing.  But not if it's considerably less than the asking price.
  • October 29 2009
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Profile picture for pvhomes
I like to find out if the cash offer is really all cash by having Buyer show proof of funds.
  • April 14 2009
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Profile picture for StokeD1
When it comes down to it.....money talks volumes.
  • April 12 2009
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From the perspective of a  listing agent...I would have to say that most sellers would be more than welcoming to a cash offer.  As a cash buyer, your negotiation leverage is very strong.  In todays market, bank appraisals can mean the difference between a sale and a "no fly zone"...so to speak...as a cash buyer there is no worry about these issues. 
  • January 25 2009
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A cash offer is typically appealing to most sellers and even agents since this would eliminate any delays with a buyer who would not have to worry about providing documentation and so forth to a bank nor worry about any appraisal issues coming up. Cash offers/deals can close faster than the standard type of transaction where there is no financing involved. When you are dealing with a buyer who is financing, you have to provide a reasonable amount of time to their lender to get the ball rolling and complete the tasks they need to (i.e. appraisal), but not so much with a cash buyer who is ready to go. Most would consider cash offers a strong offer and less of a burden to deal with. Hope this helps.
  • January 09 2009
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totally agree... cash just means no appraisal with the bank issue, no credit issue with the buyer, no repair issue with the house... it is what it is with you the buyer, you still get your inspections, can still have an apparisal if you want... still get disclosures... the seller still gets Cash at the end of the deal... just less headache to deal with on the loan side of life... and No, it doesn't mean the seller will accept a supper low cash offer over a well documented deal with a loan attached that will give the seller more money in the end... Good luck
  • January 09 2009
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Profile picture for wetdawgs
If a seller has multiple offers, and a competitive one is cash, it tends to be regarded more highly than an offer contingent on financing.

Does it give the buyer the chance to super lowball the property?  No
  • January 08 2009
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