Everyone likes cash and a cash offer for Van Alstyne real estate could be your key to getting your offer accepted quickly. Consider the following reasons to offer cash when you are buying a home.
Cash Means Serious
- Cash offers always go to the front of the line because it’s obvious you are a serious buyer. No one has to worry about pesky appraisals, underwriting requirements or mortgage interest rates changing. The freedom is enormous! As a buyer, you can choose not to have an appraisal, inspection or a survey. I am not saying that you should forego those things but you won’t have anyone requiring you to have them.
Cash is Fast
- Cash means a fast closing. The title company will not be held up waiting for lender closing instructions, lender required appraisals, repairs, surveys and other required paperwork. The documents requiring signatures to close will be much less complicated. Depending on the type of property being purchased, you may be able to close in a few days vs. weeks.
Cash is Leverage
- Cash gives you leverage. A cash offer gives the seller significant advantages so they should be more amenable to other things you may need. Another opportunity you have with cash is the ability to offer more earnest money. While you would think that earnest money wouldn’t be a big deal on a cash purchase, it can give you another advantage over someone financing. The seller knows if something goes wrong, the increased earnest money will be theirs.
Cash Can Lock Others Out
- Cash may lock others out. One of the biggest advantages is you have the ability to jump on a property as soon as it goes on market, locking out other buyers. Sellers will normally want to work a cash offer first since it will close quick and will not have the other complications. They may even be willing to accept less for cash to avoid the requirements that come with a financed offer.
Cash Eliminates Hold Ups
- No closing and funding issues. In the end, a cash offer eliminates the very last hang-up a seller may have to deal with. The seller knows that once everyone signs at the closing table, they have their money vs waiting for lender funding.
Call me if I can help you find the Van Alstyne real estate of your dreams. While you may not have cash, there are many other ways to buy your Van Alstyne home. This was just one example of why it might be the way to go if you are fortunate enough to be in a cash position. There are many other strategies that you can use to purchase the home of your dreams.
