“Chess King” by pixtawan from freedigitalphotos.net
Let’s go over a scenario. You are selling a house and you receive two offers. One offer is all cash and the other is subject to bank financing. Both are for the full price you are asking. Which one would you accept? I am hearing you scream, “CASH OFFER!” Yes, and so would many other people.
The cash strategy can turn an OK deal into a killer deal. Sellers who need cash now are usually more willing to accept a far lower price for the speed of a quick closing. Keep in mind if the seller doesn’t accept your offer one day, the next day he may change his mind. Here is an example. The seller is an investor, and you offer him $100k cash on a $150k asking price. He says no. However, the next day, he hears about an auction. He may change his mind and take the offer because he needs cash. You never know someone’s situation from day to day. It may change. But CASH will always be KING!
Have you been successful getting a great deal using cash? Please tell us…