Do sellers prefer cash over financing?
I was wondering how valuable an all cash offer to a seller is. Will it be of any additional value to a seller, over an offer that requires financing? Do others think a cash offer will justify a lower offer price? I’ve been browsing the forum recently, and it seems like buyers can run into troubles with financing, and it even causes the deals to fall through sometimes. So from the seller’s point of view, is it better to take a lower offer that is all cash? by mbswan901 from Belleview, Florida. Jul 5th 2022
Joe Metzler (JoeMetzler)
#17 ranked lender in Minnesota - 4,843 contributions
Of course they do... With a cash offer, there are no worries about the deal falling apart because the buyers financing had a problem. But at the same time, sells are not stupid. There is a tipping point for everyone. For example, I personally would not selling my house for $10,000 less on a cash offer when I have a strong pre-approval letter from a local trusted lender. Why would a give up $10,000? All you can do is try, and see what happens. With that said, if you do buy a home with cash, we do offer what is known as a delayed financing program. Buy with cash today, get the loan afterward. Learn more about delayed financing at https://joemetzler.com/buy-with-cash-get-a-loan-afterwards/ - I provide mortgage loans for homes in Minnesota, Wisconsin, Iowa, North Dakota, and South Dakota. Cambria Mortgage, NMLS 274132
Aiman Abozeid (aabozeid)
#44 ranked lender in Wisconsin - 17 contributions
At the end of the day, the seller gets paid, with cash you dont have any worries over a loan or underwriting. But i am lender and i dont pre-approve people that cant buy, so if you get a solid pre-approval you should be fine as well.
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