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Buying Real Estate - Why Cash Offers Are More Appealing to the Seller

Inside a financial environment where lots of loan providers are tightening their purse strings, there's been an increase in the number of cash buyers contemplating investing in tangible estate. If the sale is made directly using cash or through a mortgage, the seller receives exactly the same amount of money (though not in every case, which we'll cover).

So why then is really a cash offer usually seen as more attractive than an offer to buy having a mortgage? The solution ties in with the 3 things most sellers want from any transaction (aside from a reasonable price); a speedy sale, one that's sure to go through, and also the ability to move on. This combination is what gives cash buyers the upper submit securing their selection of property over those who need to seek outside financing.

The Speed of the Offer

Cash buyers already have everything they need to proceed using the transaction; they're just searching for a suitable property and a willing buyer in order to make a deal. For everybody else who needs to borrow in order to enter the property market, it's not quite that simple. Yes, they are able to make offers, but they're not backed by anything concrete until they've been approved for a financial loan.

In the case of those seeking outside finance, a deal is much more of the intention than the usual direct request to buy the property as soon as possible. Cash buyers have this power, and it enables them to provide the seller a tangible offer to think about quickly.

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The Certainty of Closing

Offers made on the contingency that financing can be found are totally reliant on outside sources. If they're not approved for a loan then your sale can't proceed. Conversely, cash buyers hold the world in their hands, and therefore are completely in charge of their very own proprietary destiny. Sellers know this, and know that a deal of money is much more of a sure thing than an offer to purchase using a mortgage.

This certainty is so attractive to some sellers that they are even prepared to accept less than their asking price, or under any competing offers, to be certain the sale goes ahead. Bringing a finance company into the mix can cause the deal to break down at any moment, cash doesn't have this problem.

The flexibleness to maneuver On

Having a prompt offer which will only break apart if either party elects to back out from the deal, comes the flexibleness to maneuver on as quickly as possible. The correct answer is simple really, no seller really wants to undergo an extended, protracted sale process, and cash buyers are the surest way to avoid this. When the seller wanted to use the money to travel round the world, or purchase another property developing the market, or even needed to sell as quickly as possible because they had already put a deal in on another house, they can now do all that. Cash buyers allow sellers to maneuver up with their life, which often means they are a far more attractive prospect than a single who has to hold back for financing.