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Old 02-16-2018, 09:51 AM
110 posts, read 39,909 times
Reputation: 72


there's 2 advantage of cash offers.

1. sales doesnt fail due to mortgage failure, and it does happen more often than you think that buyer had pre-approval from mortgage company but turns out they cant take the loan in the end due to many different reasons, so casher offer prevent that risk.

2. many home, especially for investment property is in bad/inhabitable condition that bank will not approve the mortgage, therefore, only cash buyers can make the purchase, normally to flip or rent.

i've seems many time cash offer beat mortgage offer with $500-$1500 less.
some house even specifically mention cash offer only because seller knew their house will not pass inspection or appraisal for mortgage.
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