How much percentage selling price discount would the average seller consider for a cash out sale?

Asked by Tom Baird, Taylors, SC Sun Aug 4, 2013

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, ,
Mon Aug 5, 2013
Hi Tom,
Your Buyer's Agent will need to review the recent sold homes in the neighborhood. This will give you a better idea on where your offer price needs to be. There are generally no discounts for a cash offer. The Seller will only accept what they are willing to.
1 vote
Chiara Petro, Agent, Knoxville, TN
Mon Aug 5, 2013
It depends on how willing the seller is to accept a lower price, which is dictated by how willing the market is to pay the asking price. Some areas, even here, sellers are getting full ask, some sellers aren't. Your agent should give you a market analysis of the neighborhood you choose, and take that into consideration, along with the condition of the house you are interested in and all your other factors, when deciding on your offer.
I'd be happy to speak with you some more if you wish.
1 vote
Steve Albin, Agent, Knoxville, TN
Sun Aug 4, 2013
It's not often a seller isn't willing to negotiate. Barring any competing offers, which are unlikely in today's market, this means you're going to buy lower than the listing price. The average discount varies by market. Remember it is all cash to the seller at closing any way.
1 vote
, ,
Mon Aug 5, 2013
Every deal I have closed this year was all cash to the seller, rarely does a seller request to be paid in bananas. Good luck,

Jim Simms
NMLS # 6395
JSimms@cmcloans.com
Financing Kentucky One Home at a Time
I answer questions about financing real estate based on my decades of experience dealing with mortgage underwriters. I do not offer legal or tax advice, if you need answers from an attorney or CPA find one knowledgeable in your local market.
Web Reference:  http://jamessimms.com/
0 votes
The person asking may be a first time buyer, and unaware that the seller gets paid, whether the buyer uses a bank to mortgage the property, or buys it straight out. Kindness goes a long way. I won't be using your services when I'm ready to purchase in the area, based on this response. Thanks for the "heads up" on how you deal with people.
Flag Thu Aug 8, 2013
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