bader alghan…, Home Buyer in Portland, OR

If your making a cash offer in this market how much would you be able to take off the asking price?

Asked by bader alghanim, Portland, OR Sun Apr 28, 2013

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Answers

6
If you are looking in the Highland Park area, an all cash offer would put your offer ahead of the financed offers, especially for a distressed property in need of some fixing up. Yes, Highland Park is up-and-coming with increasing home values due to neighborhood developments, but there are still lots of properties that don't qualify for financing because of the repairs needed, so cash would be your best asset in this case! As for a reduction in purchase price, that depends on the property and the motivation of the sellers.

My office is on the border of Highland Park and South Pasadena, so if you need some personal attention, please let me know!
0 votes Thank Flag Link Tue May 6, 2014
Your question is rather typical of the mentality of cash buyers. Unfortunately, it doesn't work for our current market. Homes are selling way over asking price - even if you have cash.
0 votes Thank Flag Link Mon Apr 29, 2013
are there any benefits to paying in cash?
Flag Mon Apr 29, 2013
Gosh in our market even cash requires over asking to outbid the other 15 offers!
0 votes Thank Flag Link Sun Apr 28, 2013
9 times out of 10 nothing. The only time a cash offer may be a benefit at a lower price is one that has major issues and financing will be hard to get.
In this market of multiple offers you will see cash offers over list price. If I'm a seller I care more about bottom line then how the buyer is willing to pay.
0 votes Thank Flag Link Sun Apr 28, 2013
It depends. A lot of properties in this market have multiple offers with several cash offers, in that case you'd be asking how much would you need to offer over asking to get the deal. Contact me directly so I can help you find a great deal. I constantly look for great deals for my clients. You can email me at lenasrealtor@yahoo.com or call at (310)625-9005
0 votes Thank Flag Link Sun Apr 28, 2013
Thanks for your question. For this particular home, a cash offer or offer with a loan would not make a difference to the seller. The total amount is important to the seller. They would get a full total amount regardless if the offer is made in cash or whether the buyer got a loan. What price range and size home are you looking for?
0 votes Thank Flag Link Sun Apr 28, 2013
No just in general, i plan on purchasing my first home this year, I would like to stay under $700000
2-3 bedroom, im looking here and in San Diego, im not really tied down to a particular area, I liked the prices in Highland park (I have been told its up and coming) however I enjoy the orderly structure/ tidiness of S Pasadena . What are the benefits to settling up front in cash , I realize this is a buyers market but what happened to cash is king?
These are my initial steps into the housing market
Flag Sun Apr 28, 2013
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