"Cash Buyer Benefits: Cash buyers offer speed and certainty as they do not require mortgage approval, leading to quicker transactions within 7 to 14 days. They typically impose fewer contingencies, simplifying the process and reducing the risk of sale falling through. Cash Buyer Drawbacks: Cash buyers may expect a price reduction in exchange for their quick transaction, potentially leading to missed opportunities with emotionally invested conventional buyers willing to pay more."
"Conventional Buyer Advantages: Conventional buyers often offer more money as they are emotionally attached to the property and willing to pay a premium. However, they are subject to third-party appraisals and financing contingencies that could lead to contract cancellations. Agent Advice: Deciding between cash and conventional buyers depends on your specific needs. If you require funds for another home purchase and prefer less risk, a cash offer may be suitable."
Cash buyers enable faster, more certain closings within 7 to 14 days and typically impose fewer contingencies, reducing the risk of a sale falling through. Cash offers may come with price concessions, as buyers expect discounts for speed, potentially foregoing higher bids from emotionally invested financed buyers. Conventional buyers often offer higher prices but face third-party appraisals and financing contingencies that can cancel contracts. Choose cash when speed, reduced risk, or coordinating another purchase is essential. Choose a financed buyer to maximize sale price when flexible on closing dates and when market conditions favor sellers.
Read at SFGATE
Unable to calculate read time
Collection
[
|
...
]