Was your offer accepted? If so, you may want to talk with a lender about financing. You see, with interest rates being so low these days it almost doesn't make sense to pay cash for anything. The break even point of what you would save every month versus what you will pay in finance chages is so small that it is not much benefit to use cash.... To give you and example. For every $10,000 in purchase price, your payment would only be $44 per month. So for $100,000 loan amount you will only pay $440 per month (principal and interest) but you will always have taxes and insurance so we aen't going to factor those in..... Do the math, how many months of paying $440 per month will it take to add up to the $100,000 loan amount???? That is just over 227 months or 18.93 years..... Now just imagine what you could have done with that $100,000 had you kept it in your pocket for 18 years? Do you see where I am going with this? Cash is king right now, keep all that you can.
Now, if you in-law is paying cash because you are not credit worthy to get a loan, then obviously this debate doesn't matter. Good luck. If you need an informed lender to answer these questions please email me and I will introduce you to a very good lender who knows even more than I do about finance. Any way you slice it, good luck with your bid!!!