Home Buying in Atlanta>Question Details

Tamanika, Home Buyer in Charlotte, NC

When paying cash for a home how much can you expect to save off of the asking price?

Asked by Tamanika, Charlotte, NC Fri Jun 21, 2013

This question was asked from this property: http://=www.trulia.com/property/3006669077-3657-Cold-Spring-Ln-Atla… target="_blank" rel="nofollow">http://www.trulia.com/property/3006669077-3657-Cold-Spring-L…

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why would you expect any discount?
Web Reference: http://www.hmtatlanta.com
2 votes Thank Flag Link Fri Jun 21, 2013
I would make sure you have a real estate agent to help you with this process. Best of Luck.
0 votes Thank Flag Link Mon Mar 2, 2015
This is the one place these brokers can still publicly lie to you! (new laws all the time)
Do you think they are not taking that chance?

you always pay less in cash!
if you pay less the broker makes less... never going to tell you that you can pay less!
0 votes Thank Flag Link Sun Mar 1, 2015
In the end- a Seller does not care if you are cash or a loan because they get paid the same way at the end. The only time it might make a difference is if they do not want consider FHA/VA or are worried about appraisal issues.
0 votes Thank Flag Link Wed Nov 26, 2014
these people don't know what there talking about I get 10 -15 % off asking price and im an investor to cash make big I diff to me bc I can get my next investment quicker and keep it loving
0 votes Thank Flag Link Mon Oct 6, 2014
Would depend on the home and or seller of that home. Honestly I still sell my listings for full asking price to cash buyers. We just close earlier.
0 votes Thank Flag Link Thu Jun 27, 2013
Discount amount for cash? Any guess is good starting from no discount at all.

Cash does not entitle you to a discount. It depends on the property and the seller. Every deal is different.

An aggressive buyer with a large down payment and preapproval from a local lender who I know and offering a premium price might be more attractive than a cash buyer who expects a discount.
0 votes Thank Flag Link Sat Jun 22, 2013
There are many conditions that come into play when answering this question. With low inventory levels, Cash is just like Financing from a pricing standpoint. It does make a difference when bidding against other buyers because the seller will want a cash deal rather than a finance one....but doesn't mean the price will be different.
0 votes Thank Flag Link Fri Jun 21, 2013

I like Lee and Ron's answers - this is one of those questions with no real answer because every transaction is different depending on a slew of things, not least of which is the sellers motivation and urgency. If there is such urgency and if you know how to find that out, cash presented the right way can indeed get you a bit better price. In any case, it makes you a strong contender, because most buyers have not gotten a loan approval, and there is no guarantee the deal will close after a seller pulls the house off the market for 15-18 days while a buyer tries to obtain this approval. Some folks would rather knock $$ off for a "done deal" than wait around and see.

There are many things that go into a successful purchase strategy - and it starts with determining if the home is even worth buying and if it is, then running a market trend analysis and pointed neighborhood pricing analysis to see how realistic the list price is.


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0 votes Thank Flag Link Fri Jun 21, 2013
A home purchase with cash is not like going into a small business and paying cash instead of using a credit card. There really are not any "cash discounts" in real estate.

Paying cash however could get your offer accpeted over a comparable offer where the buyer is obtaining a mortgage. You can view that as an advantage, but not a discount.
0 votes Thank Flag Link Fri Jun 21, 2013
Whether you're purchasing with cash or obtaining a loan, once it get to the seller, its cash regardless. You dont save any money by paying cash, it makes the process a little more faster, and the seller dont have to worry about the buyer's loan falling through and killing the deal, but I've seen cash payers kill deals as well, and back out at the last minute. In this market, whether you have cash or a loan, you will most likely pay the asking amount or a little more to even purchase a property.
0 votes Thank Flag Link Fri Jun 21, 2013
That looks like a popular house for the price of $330K in Sexton Woods.

So, how much can you expect? Anywhere from 2 to 32%...consult your local agent. he or she can provide a hyperlocal market analysis and gauge the seller's stance.

If you have competition, cash should win - cash should at least get the counter...however, what if there is more than one of you cash buyers making an attempt to establish a win/win with this particular seller, Tamanika29?

It's never just about price - it's about price, terms and time.
0 votes Thank Flag Link Fri Jun 21, 2013
When all the dust settles; everyone has their money:
CASH makes for a STRONGER offer; one less likely to fail due to financing.
CASH does not make a BETTER offer.

Talk to your Tax advisor; you may want to put 50% down, (for example) and keep the tax deduction.
0 votes Thank Flag Link Fri Jun 21, 2013
NONE Only your offer may be more favorable due to no complication loan or cash If it is a good buyer there is no difference to the seller
0 votes Thank Flag Link Fri Jun 21, 2013
Please keep in mind that at the closing table all properties are paid in full to the seller, regardless of the source of funds (i.e cash or mortgage). So offering cash does not necessarily translate to "discount". And in this market, you are more than likely going to have to pay asking or over if you want to be the winning offer.
0 votes Thank Flag Link Fri Jun 21, 2013
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