why cash? - Posted by jim

Posted by boogeyman on February 09, 2002 at 17:22:19:

The question isn’t money, it’s time! It takes quite a bit more time, usually 30+ days to close a bank financed deal. Someone who has cash can usually close in a matter of days. I imagine some sellers wouldn’t mind, but a truly motivated seller with time constraints would jump on the cash offer.

Oh yeah, not to mention that sometimes a situation could occur with a lender that would force someone to not be able to close a deal. Usually don’t have those types of issues when a buyer has cash!!

Cash is king!

why cash? - Posted by jim

Posted by jim on February 09, 2002 at 16:45:06:

I can’t figure out why offering all cash would entice a seller to lower his price. Isn’t he going to get all cash anyway from wherever I get my financing? Or from whoever will buy the house? If he’s asking 100k, isn’t he going to get 100k at close?

Re: why cash? - Posted by Ben (NJ)

Posted by Ben (NJ) on February 09, 2002 at 17:26:42:

If you’ve ever taken a property off the market for
30 days or more waiting for a buyer to get mortgage approval and then finding out he got denied, you would see the benefits of having a cash buyer.