Why Are Cash Offers Usually Less?
Another common Real Estate question that we’ve been asked by over the years is “why are cash offers usually less than financed offers?”.
This is a great question to ask because it’s not uncommon to hear stories of some homes selling for less than what they are worth if a cash offer is involved.
If you’re a seller you can give yourself an advantage if you understand the “psychology” behind cash offers so you can protect yourself and sell your home for what it’s worth.
Why Do Some Sellers Accept Less Money from A Cash Offer?
Sadly, in some situations, a seller might be inclined to accept a lower offer on their home if they are desperate to sell, and get cash out of their home, because they have to move out of state, or are getting close to foreclosure.
In situations like these, buyers who can pay cash for a home are seemingly at the right place, and the right time, because thanks to their cash offer the sale can close in as little as 5 days, compared to a financed offer, which can sometimes take weeks, depending on the mortgage loan type, home and Real Estate market.
Not Every Cash Offer Is Right for The Seller
Although cash offers are seemingly “hassle free”, not every seller should say yes to a cash offer, especially if it’s an offer that’s lower than what their home is worth because, when a seller hires the right Real Estate broker, like Fred Sed Realty, they can have confidence in knowing that they’ve hired the right person for the job who knows the market and will sell their home for what it’s worth.
It’s also important for cash buyers to hire the right Real Estate broker because, this will save them the time, money and hassle of searching for homes themselves.
Contact Fred Sed Realty
To get started with selling your Southern California home, or to search for homes in the SoCal Real Estate market, contact Fred Sed Realty today by calling us at (800) 921-9231 or click here to connect with us online.