In today’s video we will answer the question: Is the Process Different When Paying Cash?
Problem: Cash buyers can over-value the benefits of paying cash. Even if you have the cash… You must still be prepared before making a cash offer to match money & features!
Reality: The seller and listing agent don’t know you AND the market still dictates the price range a property will sell for. Paying cash does not always carry the same weight in all types of markets! At the end of the day the seller is still getting a check/wire for their proceeds whether it’s a cash deal or if a mortgage is involved.
To summarize the key point: When you decide to pay cash for a property it’s still important to recognize that you are going into a buying process not an event. Therefore, best practices include determining the amount you want to pay and what that money is buying, securing a written letter from your banker that you have the ability to pay cash and recognizing that cash is not always the most important factor for a seller.