Elaine,

Cash offers are generally more attractive than Offers that require Financing. In the case of multiple offers, the Bank will more than likely notify you that there are multiple offers and ask for your best and final price. Provided you have the more favorable price and are all cash, you would be in the drivers seat.

A cash offer always makes you a strong buyer. In most cases you would be considered over a person that needed to obtain a mortgage, especially if the contract prices were equal. Even if the home is not bank owned, sellers are happy to work with cash buyers. There are no issues involved with mortgage qualifications and the closing can take place quickly.

Let me know how I may assit you.

Nelene Gibbs, Realtor, e-Pro
William E. Wood & Assoc.
mail to: nelene@homesbynelene.com
757 672-3232

Hi Elaine. I hope this finds you well. It has been my experience that a cash offer is somewhat more desireable than one that needs financing. That being said, the bank is interested in one thing, the amount of money they will net. So if you submit an offer on a property using cash to purchase, and another offer comes in $1,000 more but needs financing, they will probably lean toward the higher sales price. Please remember that price is only one of the items looked at within a purchase agreement. Settlement costs concessions, closing date, etc can also determine what offer a seller will take or counter. Best of luck to you.
Candy C. Dennis
Sales Manger, Long & Foster, Norfolk
candy.dennis@longandfoster.com

Only if the offer is the correct price for them at the right time.