I've been trying to buy a house but those cash buyers are making it way too difficult for the sellers to even consider my offers.

Asked by Rhayward, Brooklyn, NY Wed Apr 17, 2013

Are there any tips to beat them???

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54
Annette Law…, Agent, Palm Harbor, FL
Wed May 1, 2013
BEST ANSWER
Rhay,
I'm confident you are aware you have not provided sufficient information for anyone to provide any actionable direction.
-
Of course you think it 'cash buyers' that is creating your problem.
The reality is your purchase offer(s) are not competive.
There are MANY reasons for a purchase offer to be non-competitive.
These reasons are not always 'cash buyers.'
-
Wake up and smell the coffee.
Submit an offer that fits the expectations of the seller and not polluted with exits and contingencies.
It"s not rocket science.
It's not magic.
-
Work with an experience real estate professional.
Follow their guidance.
Be adaptable. agile and able to compromise.

Best of success to you,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL
727.420.4041
http://RealEstateMadeEZ.us
25 votes
You in florida have no idea about buyers in NY 5 boroughs where even if the prices are 5 to 10 times more in florida. people here have cash OVER one million to buy it straight out and over bid you if you are financing.

Some financing 50% but they still choose cash over the 50% down one even if it's couple 10 grands lower due to faster closing time and uncertainties with fiancing.
Flag Mon Oct 23, 2017
rude!!
Flag Wed Oct 11, 2017
opps cash buyer
Flag Fri Sep 29, 2017
you got to be kidding, Any offer you make and then the case buyer comes in its over. No one can compete with a cash buyer..Wake up ReMAX
Flag Fri Sep 29, 2017
Wow, I agree, that was an incredibly rude response! Obviously Annette is limited in her experience outside of her local area. Cash buyers abound here in California as well as Texas and yes, they are hard to complete with. Short sales are ridiculous, as the cash buyers have leverage with the banks, who just want to offload the property as quickly and easily as possible. Foreclosures can be a good entry, but many times you have to be willing to put in a lot of work to get them back in shape as many people destroy a home when they lose it. My advice is to save as much money as possible and get into a home that fits your immediate needs. Don't expect to buy your 'dream' home, especially if it is your first. Good luck to you!
Flag Mon Aug 14, 2017
You agents are, sadly, ALL the same.. smh
The TRUTH is, as you well know, YES, cash buyers are in a league of their own ~ Period!!!
An agent won't tell you that because Cash Buyers don't Need any agents. Not Magic. Not Rocket
Science, just Common Sense.. ;-)
(I'm quite sure this will never get to anyone. No surprise there!)
Flag Sat Aug 12, 2017
Your answer is extremely rude! You are also making assumptions. I have been in this exact position after the bubble burst and investors were snapping up homes right and left with cash. I lost out on 5 different offers simply because they were offering cash, although my offer was higher and I had 25% down with a letter of pre-approval. The most aggravating thing was...the cash buyers kept backing out and would then put an offer on the next house that I had put an offer on. It was almost like they were following me around! I was precluded from buying any of those houses, because the sellers (usually banks due to foreclosure) would not come back to tell me the cash deal had fallen through. The only way I finally got a house was to buy one they were not interested in because it needed work.
Flag Sat Aug 12, 2017
You Annette were quite rude, and your the professional here.. Would not want you to help me buy a property !
Flag Sat Aug 12, 2017
Wow what a rude reply
I was that cash buyer and I know it helped a lot. I would agree with what someone else replied in making sure you are pre-approved. Then yes go in with a slightly higher offer. Good luck!
Flag Sat Aug 12, 2017
I agree with many people before. I started to read the reply and was immediately put off. It doesn't matter what the content is if you are putting it out there is a blunt quite rude way. There is no reason to put people down while informing them. We, of course, all know the way to get the house is in the offer. the better the offer the better the chance. I think they were hoping for sound advice or a new answer. They are probably frustrated.....the answer given, I would guess, would not help the feeling that there are many people out there just for the money...on the agents end.
Flag Fri Aug 11, 2017
Sorry, this was rude. There are different ways of communicating that doesn't have a jagged edge on it. What you said was good, but you could have toned down your frustration because you've heard it so many times before. You're suppose to be customer oriented. That was not a good customer service answer.
Flag Fri Aug 11, 2017
Good answer Annette. I don't see why people thought your answer was rude when all you did was shoot from the hip with an honest answer.
Flag Fri Aug 11, 2017
Thank you for this very "real" response! Thanks for cutting to the chase Annette Law!
Flag Fri Aug 11, 2017
Anette Im sure Remax is so proud of you!

We just bought in a very hot seller's market. We did lose quite a few houses but the repairs needed, poor quality improvements did not justify us offering more so we weren't too upset losing the bids. The last thing we wanted is to be upside down on our new purchase. The offer price does matter and your bid has to be on point. My best advice is that you need pre-approved not pre-qualified. Sellers in this area will not even consider pre-qualified offers. Cash buyers are usually investors and it will be hard to beat them on distressed properties and motivated sellers.
Flag Fri Aug 11, 2017
Wow, what a rude reply.
Flag Fri Aug 11, 2017
What You Respect Will Come Toward You. What You Do Not Respect Will Move Away From You.
Flag Fri Aug 11, 2017
As a retired New York City area realtor, all the responses below are wrong. Annette's reply may be harsh, but the question was asked in April 2013 from a New York City buyer and EVERYBODY that replied criticizing Annette needs to learn that buying real estate in NYC is completely different than buying real estate elsewhere in the U.S. Therefore, as I read replies from across the U.S., the issue is trying to compete with foreign cash investors + wealthy NYC cash buyers + regular buyers puts enormous pressure on regular buyers who may need financing. This explains why it's difficult for the financed buyer to submit an offer.
Flag Thu Aug 10, 2017
You could have answered that in a much nicer way. I would've expected a professional response especially coming from an agent ... Condescending one to say the least :( tacky!
Flag Thu Aug 10, 2017
Annette, could you come across and more condescending. Maybe you need to stop smelling the coffee.
-Chad, AZ
Flag Thu Aug 10, 2017
Spell and fact check would be nice.
Flag Thu Aug 10, 2017
Your response is what keeps first time buyers out of the American dream! If you keep answering people or future clients like you are I see you asking for unemployment soon!!!!!
Flag Thu Aug 10, 2017
Your answer is very mean spirited and has spelling errors!!! You should reconsider being abrasive and rude.
Flag Thu Aug 10, 2017
What a nasty response, I would never want to work with someone like you!
Flag Thu Aug 10, 2017
Rhay, Clearly they specified and were speaking directly about cash offers so clearly this was relayed to them by the realtor your response is not applicable. We lost out when many real estate deals due to all cash offers. We were even non-contingent and lost out to cash buyers. Why would you assume that they were not giving fair offers many people have lost out on real estate deals who've given fair offers above market value but we're still beat out by all-cash offers
Flag Thu Aug 10, 2017
Wow. That was a really rude response, especially coming from a supposed professional. I certainly wouldn't go through to purchase a home.
Flag Thu Aug 10, 2017
How rude! This person asked a LEGITIMATE question, and you criticize him/her with sarcasm!!?? Get out of the real estate business! You're not a people person.
Flag Thu Aug 10, 2017
Smh
Flag Thu Aug 10, 2017
Where are your manners? I'm shocked you remain employed.
Flag Thu Aug 10, 2017
This is a bad realtor if she says dump your contingencies in your offer. You have to put those in the offer as a means of mitigating your risk and not buying a lemon. If your realtor tells you to skip contingencies and exits, then all he or she wants is the sales commission and you can battle out the bad deal in court while she or he laughs all the way to the bank. bad advice for new home buyers in my opinion.
Flag Thu Aug 10, 2017
Nasty lady!
Flag Thu Aug 10, 2017
Annette, I'd delete this response if I were you. I'm sure this doesn't reflect your everyday attitude. Maybe it was a bad day for you.
Flag Thu Aug 10, 2017
Yeow. Glad she isn't my realtor. My daughter has been working with a realtor who told her that cash buyers are definitely the biggest problem. Unless money is no object.
Flag Thu Aug 10, 2017
What horrible generic answer. I really hope that's not real advice but satire. Horrible that this is the top answer from Trulia.
Flag Thu Aug 10, 2017
What's with the rudeness & hostility to a simple question? I would never use you as an agent if that's how you address people.
Flag Thu Aug 10, 2017
Agree with everything except that you need to work with a "professional". Some agents are not necessarily a help. I figured it on my own. Yes, there's more to an offer than just cash vs. loan contingency, etc. I also would want to talk with the seller or write a letter; make an appeal as to why you really want the house. Money can't always make up for making someone's dream a reality...
Flag Thu Aug 10, 2017
Funny that this is the top answer when sorted by "Highest Rated" even though it has -81 votes (-82 after I add mine). Trulia must use absolute value... ?
Flag Thu Aug 10, 2017
Annette wants gullible people to overpay so agents like her can close the sale and make a tidy profit at your expense. Stay clear of unprofessional unscrupulous agents like her.
Flag Thu Aug 10, 2017
That is not advice..that is insulting:(
Flag Thu Aug 10, 2017
Or was this a client of yours that didn't follow your advice. Even so you made yourself and Remax look bad
Flag Thu Aug 10, 2017
Wow Annette, 0 professionalism. Way to market yourself and REMAX... go you.
Flag Thu Aug 10, 2017
Extremely terse (bordering on rude response). You might want to smooth out your rough edges. Remax mustn't mind how you represent their brand. I can assure you it wouldn't fly in a competitive California market.
Flag Thu Aug 10, 2017
Good answer, I will add if you want it ,make your offer irresistible
Flag Thu Aug 10, 2017
Annette your professionalism is terrible! This person is looking for answers not a rude snobbery comment.
Flag Thu Aug 10, 2017
I agree with others you are rude an unipolar ice in response. And you are also WRONG.
Flag Thu Aug 10, 2017
Annette, did you get off the wrong side of the bed this morning or are you always this rude? This person is asking for advice, not a lecture. I gather Remax did not train you on how to properly and professionally respond to client's questions and concerns; it is, after all, not rocket science. Raynard, please follow the others' good advice.
Flag Thu Aug 10, 2017
WOW you do not have a "bedside manner" thumbs down
Flag Thu Aug 10, 2017
Annette. Annette. Annette
You are so correct. I had a similar situation with purchasing a foreclosure. I was out-bided twice on the same house. The people that beat it before me was not able to proceed to closing. After the second time I made myself a promise and said if I get a third bite at this Apple I'm going to dig deeper into my pocket and when I did that I purchased my dream home and I'm in the process of doing a complete remodel from roof to the floor windows doors the whole thing
Flag Thu Aug 10, 2017
Wow, what a rude reply. I apologize for my colleagues who may have forgotten that they are speaking to 'people', who have real concerns and would simply like a helpful response. She is correct though in one respect, it's not a simple answer - there are many things you can do that could help you get an accepted offer. Talk to your mortgage person and see what he/she says. If you already own property maybe you could get a HELOC so that you could make bigger down payment. Possibly borrow from your 401k, etc. write a letter to the owner... sometimes it works. Especially helpful is having a buyer's agent who knows how to get along with other agents, and who isn't antagonistic or rude. Good luck!

Barrie Naji, MBA, CCIC, ASP, Realtor
Residential & Commercial Sales
Coldwell Banker Residential Brokerage
Boston, MA

Http://Www.BarrieSellsBoston.com

617-893-3733
Flag Thu Aug 10, 2017
Cash is king and when you don't put a lot of demands on the process the offer will be accepted.
Flag Thu Aug 10, 2017
me thinks you doth protest too much,
Flag Thu Aug 10, 2017
Wow! I had to read your response a few times! I could not believe what and how you spoke to that buyer! I would never work with a person like you.
Flag Thu Aug 10, 2017
I am confident you are aware of how unprofessional your response is. I would never do business with someone who lacks tact in their communication such as yourself. Clearly he was not aware or he would not have asked. You should be curious vs judgmental.
Flag Thu Aug 10, 2017
Dear missy arrogance...and i earned the right to so say, having been a broker for over 30 years,
you are so insensitive, rude ,cocky,ergo beyond foolish.
Flag Thu Aug 10, 2017
Wrong! Cash offers close quicker so who wouldn't rather have a cash offer?
Flag Thu Aug 10, 2017
Are you kidding me? What a pompous, ignorant person you are. I would advise anyone to avoid working with you at all costs. Of course an all cash offer makes a difference when everyone is bidding against the same asking price.
Flag Thu Aug 10, 2017
Wow.. you are not a very nice representation of your company..
Flag Thu Aug 10, 2017
Wow, this is an unprofessional and arrogant response. I've definitely taken negative notice of your affiliation in your signature line.
Flag Thu Aug 10, 2017
What an arrogant reply Annette!
Flag Thu Aug 10, 2017
"Submit an offer that fits the expectations of the seller"
All that quote means is the so-called real-estate professional wants you (the buyer) to go in at asking with no negotiations, inspections, or contingencies. Do whats best for you, as the buyer, not what they think you should do. Remember real-estate agents are in for the highest commission, not your best interests.
Flag Thu Jul 16, 2015
Really? The last offer we made was on something that sat there for months.
The moment we called, we were told they "had an offer" and we need to offer "competitive price".
Our answer was, call when you take our price. And they did. There never was any other offer at all. It never sold.
W did not buy it because we found that they wanted us to give them 5 feet easement on one side, cutting us off the driveway, because they had build a hot tub on what was to be our property, with no permit and wanted to keep getting to it through our property.
They also wanted an easement on the other side where they carved a piece of land off to sell separately.

This is what real estate agents call"competitive offer".
We called it a scam .
As I said, it never sold.
Flag Fri Jul 3, 2015
Right on! Cash buyer here, what pisses me off are fannie and freddie that give loans to people with 3% down. This causes price competition which drives prices up. Cash is not king no matter what you think, the only good deals I get are houses that are un-financeable due to the need for major repairs.
Flag Thu Jul 2, 2015
The results were that both agents got their "sales" commission checks for doing zero. My buyes agent was a royal PAIN.....and told me NO at every step. The listing agent was also a pain until the SELLER TOLD HER WHAT SHE WANTED to do. Both agents fought the transaction to make it more complex than it was. This is why sellers prefer cash buyers---no phoney promises, fancy talk and delays followed by excuses. After escrow I invited the seller over for dinner----in her house of 30 years. She advised me I made her VERY HAPPY for reducing the stress she was under. She happened to have three of the FIVE D's of real estate: Death, divorce and debt...and I was here to help her. I also earned 30% equity compared to market value. Note all the other homeowners and their agents HATED me---for "killing" their comps. Too bad so sad.--it's just BUSINESS.
Flag Thu Jul 2, 2015
Wow, not enough information to provide actionable direction, but enough to make assumptions that they are not making competitive offers and submitting offers "polluted" with exits and contingencies?

Yes, working with an experienced real estate professional is a good idea. Just make sure it's one that acts in a professional manner.
Flag Thu Jul 2, 2015
Interesting response. I am a cash buyer and the last person I ask for help is a real estate sales agent. Of course if the property you want to buy is "listed" you must wait until the listing expires (or sold) or work with the listing agent or buyers agent in presenting your offer to seller. In my last transaction the "Buyers agent" .was only representing himself and not me. So what to do? I found the seller and talked with her directly. She in turn directed her listing agent to WORK WITH ME. I contacted the listing agent and submitted a written offer with NO CONTINGENCIES and LARGE Earnest Deposit, and told her to IMMEDIATELY contact the seller with this written offer and Earn Deposit Check. because she was expecting it. This was kNOnT a Short sale and my offer was less than what she owed on the mortgage. My offer was over 30% BELOW the asking price. My offer was accepted by seller AND her bank. I had to contact the bank to make my pitch for acceptance. Done DEAL---
Flag Thu Jul 2, 2015
Thats a very rudely crafted response. If he hasnt provided enough info for you, why did you assume his offers are not competitive and full of contingencies. Agents like you, make me smile when the market crashes. Remember how the arrogance faded away in 2008-2011, and you were all crying poor? Karma....
Flag Thu Jul 2, 2015
Rhonda Holt, Agent, New York, NY
Fri Feb 14, 2014
Hello, if you're out there investing then most likely an all cash buyer will get the deal because they don't have to get financing from the bank and they close within a few weeks instead of months.

But cash buyers are beat out sometimes by regular buyers because they usually put in ridiculously low offers that will sometimes insult the seller. Of course if your offer is stronger and you have all your financial documents in place, good credit , a prequalification for a loan is in place, you have a lawyer then you can definitely beat a cash buyer. So you have to have things ready to go and be ready to move on the deal fast so the seller doesn't reconsider.

Also cash buyers usually take properties in any kind of condition and will even take properties with tenants because they have so much cash on hand to handle situations like these. This is definitely hard for a person that has to get financing because you will most likely get an inspection and will want to renegotiate the price and ask for repairs or replacements. Not getting an inspection can be extremely risky and I do not recommend it because you will need alot of capital to do repairs and replacements after your purchase and may end up in serious debt and loss.

So before you go after a property a cash buyer wants be sure its the type of property that's right for you and that you can handle all that comes with it. Good luck!
53 votes
Bank properties on foreclosure often are defective - that is why the owner went bankrupt: the repairs that came up were too costly and defaulting a way out. Which means that you can often not get a mortgage on such property - it may have foundation problems or other structural issues from leaky roof or windows. The bank is looking for a buyer who buys as is for cash so the sale is going through and the buyer buys the property as is, no further negotiations once you get to see it or find out exactly how much repair it needs. Most such properties are bought by contractors who patch it up and then sell at double or triple the buying price.
Flag Fri Aug 11, 2017
Michelle Mas…, Home Buyer, West, TX
Fri Jul 3, 2015
Yes, You can beat my cash offer with a finaced offer - The number one way is to offer no inspections or that even with inspections you will not back out of contract.

Many people think that if a home is listed for say 80,000 by the foreclosure bank that will be the price they can get it for. What many banks do is list a house LOW to get people in to look at them - its a numbers game. Be prepared to go 10,000 - 20,000 over listed price. Look and see what the other houses are going for in that area.

I have bought several homes in foreclosure. The last one two finaced offers had the higher price being offered then my offer. I held out on my price because I offered no inspections. Banks want a fast sale. Uncomplicated sale. Homeowners don't want to invest time to have an inspection come back requiring the homeowner or bank to have to correct the property to sell.

I'll throw in another tip. Find out who the REO agent is. Go to the county website see who the bank is and call the bank and ask for the REO agent contact information. Once you get that information send an email stating that you are interested in property X, that you will be submitting an offer and its not about winning or losing the bid but that you want to be sure the agent sees your bid. Then include a picture of you- your family - Mine was in my signature - WHY? This way you are not a number but you and the REO agent is making a connection.

Best wishes.
33 votes
Home buyer Austin, TX
What if any are the advantages of being a cash buyer and not bank financed?
Flag Thu Aug 10, 2017
Nice good info
Flag Thu Aug 10, 2017
Try 200k over asking here in California
Flag Thu Aug 10, 2017
Not true at all. If you are looking in a hot area those things don't always matter. I have had all my pre-qualifications in place was willing to take the home as is and offered over asking sometimes by 20k and still got beat out by cash buyers offering much less
Flag Thu Aug 10, 2017
Jose, Home Buyer, Brooklyn, NY
Thu Jul 2, 2015
REMEMBER ITS A SELLERS MARKET
1. Cash buyers do not need an appraisal.
2. You need an appraisal, have your realtor prepare a CMA, make a offer at full asking/value
3. Cash buyers do not need inspections
4. you need an inspection, take property AS IS or walk, if you ask for to much seller will go with cash buyer who doesn't ask for anything.
5. Do not ask for closing costs
6. look for properties that are not a steal, that is what cash buyers look for. stop competing with them for the same property
Investors want properties they can make money on, you want a property you can live in, do not co mingle that.
17 votes
And...If you are in a crazy, fast moving market and homes are going for over the asking price and over what the comps will support, many sellers will go with a cash offer so that they won't have to worry about the home appraising.
Many times your realtor can structure your offer so that it will be the most attractive one for the seller. It may not be the highest price but the seller may net more at closing. You can offer to pay for the title policy. Your agent can talk to the listing agent to find out what the seller is looking for. Sometimes sellers want a later close date so that they can move seamlessly in to their next home or they may want an extended lease back so they can keep their kids in school until the end of the school year. You could offer the seller a few day lease back at no charge.
Ask your agent to get creative!
Flag Thu Aug 10, 2017
By the way...investor wanted to have an inspection to make sure property met their criteria.
Asked for Closing Point. No comprende...an investor? then a very low, low offer, then I need to pay commission to my listing agent and buyer agent from funds.Then my listing agent said and claimed I was discriminating...since when an Investor is a protected class?...and many other arguments my listing agent gave me for me to sale to an investor, and I forgot the Real Estate form submitted via realtor representing investor, by the way himself, is a 2007, we are in 2017 form...ups!
Flag Thu Aug 10, 2017
Alexandria K…, Home Buyer, New York, NY
Thu Jul 2, 2015
If you find a property you really want, write a letter to the owner introducing yourself and how this property meets your personal situation. My son beat out three better offers because his wife wrote a letter to the owners. The owners felt that meeting their family's needs was worth more than selling to an investor.
14 votes
I agree. A co-worker of mine was not a cash buyer but she got the house because the seller's realtor thought it would be good for the neighborhood to have a home owner rather than another private investment firm buying it. I guess goodwill goes a long way.
Flag Thu Aug 10, 2017
John Russo, Home Seller, Desert Hot Springs, CA
Thu Jul 2, 2015
My wife and i had looked at homes this past and found one in Florida that was a good investment. We offered full price, were pre approved and had finances available to proceed. No one told us that a cash buyer was going to put in an offer. Next case.

When the bottom fell out we had sold our house just before all hell broke loose. We rented for a year then went searching for homes again out here in Southern California. The housing inventory was high with foreclosures and short sales but not all the homes were equal as we know. We looked for a home in a an area we had lived in and searched the MLS daily. Seems that houses suddenly appeared that the broker claimed was listed for a few weeks. These were priced low to sell, upgraded and very desirable.

There were some problems as some were already sold to cash buyers before being listed. Other homes the brokers were hesitant to show but instead gave us wrong keys and incorrect lock box information to keep us from gaining entry. They eventually showed up with an investor who had already agreed to purchase the home. The brokers were our problem and had no morals lying to us about anything and everything to get that cash sale.

The escrow companies out here were having a field day with us. They tripled charged for many line items by renaming them so people paid thousands more for closing cost. The state eventually caught on and took a few banditos to court. So how do you beat the cash offer? Find honest people to deal with. Best of luck.
11 votes
you are absolutely correct ,i had same situation like yours.
Flag Thu Aug 10, 2017
Rhonda Holt, Agent, New York, NY
Fri Oct 25, 2013
The only way to even stand a chance against cash buyers who do not have to get financing is to get everything you need in order and ready to go.

When you go out to see a property especially in the early phase make sure you put in a written offer right then and there if you're sure about the property, you should have gone to a lender for a prequalification that you are walking with and have your mortgage lender info, have your credit report on hand with all three scores and no older than 3 months old, have proof of income ready, have your lawyer information, to move faster sign your contract first and have it contingent upon the inspection.

I hope these tips will help you, its just about getting to the property early, putting in an offer slightly higher than a cash buyer and having all your paperwork and contact information in order.

Feel free to call me anytime.
7 votes
This is the correct answer. Have all your documents in order and be quick to put in an offer and be slightly higher. I've bought as an investor and a home owner. As an investor I put in slighly lower offers. When I'm buying for my family, a 5% premium over asking price because we know what we want.

To me the most frustrating thing is the first time home buyer that drive up the price of lower end homes (by lower end I mean smaller cheaper homes... these are what we buy to rent out). They can afford to pay 5-10% more than I can, because I have certain numbers I need to hit for it to be a good investment.
Flag Thu Aug 10, 2017
Deborah Dick…, Agent, Murfreesboro, TN
Thu Aug 10, 2017
Talk to your Realtor about which types of loans are easiest for the sellers, and go with those. It is not about your ease, it is about making your offer competitive in this market.

Save up as much money as you possibly can so you don't have to ask for seller help on anything. If you don't have any cash to pay your own fees and down payment you may very well need to wait..sorry but you may not be ready for this market.

Don't feel like you have to buy at the top of your budget. Leave yourself some room to pay a little over asking price and if you have cash to make up the difference, even better. Also, put down the largest amount of earnest money you can. It sends a message you are serious.

Keep trying, you may need to lose a few offers but eventually you will find that right home.
5 votes
Davekermass, Home Owner, Denver, CO
Thu Aug 10, 2017
First off don't hire Annette Law.
Try to get a pre approved vs prequalified letter from your bank.
If you have the assets in retirement or elsewhere to present a "cash offer" do so. You can always change to financing once you're under contract. Just make sure you've got enough time to close the loan.
3 votes
Dennis Rich, Home Buyer, Elkton, FL
Thu Aug 10, 2017
There is a mortgage bank from CA that has a program whereby they will guarantee to close in 14 days or they will give the buyer $1000. That allows anyone to compete (time-wise)with a cash buyer. FirstCal has a branch in FL (phone # 954-889-0200.)
3 votes
paul langseth, Home Buyer, 85749
Thu Aug 10, 2017
Put in a stronger offer. Be pre-qualified.
2 votes
Batton.shopp…, Home Buyer, Hutto, TX
Fri Aug 11, 2017
When cash buyers (investors) were all over Las Vegas, we had just retired and were home searching to be near our daughter. We had 50k from our home sale in Arizona, a small 10k savings account and a 50k 401k. We were being outbid right and left and each offer left us waiting to find out. We had been warned that Fannie Mae repos were really difficult, but the house we wanted was Fannie Mae. We had our mortgage work in order and cashed in our 401k putting together 100k down to get a great mortgage offer and sound serious. The home was newer so we took a chance on no inspection. Homes we're going very near the asking price at that time, so we offered 213,00 on a 200,00 home that originally sold new for 474k. We got it over the cash buyers sticking around the 200k price. Fannie Mae took about 6bweeks on their part. We were ready to go, it was slow and they kept wanting one more thing. We had to pay off the default amounts with the HOA, but eventually we got there. We are retired military, hubby disabled, but that didn't figure in as we went conventional with our credit union who knew us for 20+ years. We pay extra on our mortgage every month and now only owe 102k. Wife got a small inheritance when her dad died and we could pay it off but are thinking of looking for another home, so deciding what to do. This way we have another 100k to put down should we find another home and can sell our home afterwards making it easier then two moves. We never wrote a letter, it might help, not sure. You have to let the seller or bank know how serious you are and yes forgo concessions like inspections. I don't think the banks mind a mortgage that you are pre-approved for, but they want to close with little hassle. They want to know you are serious. A big down payment and a decent amount of cash to put with your offer seems to be key here. We wrote a check for 5k and our pre-approval letter went with the offer of 13k over their asking price. Then we waited about 3 weeks. Our home is now worth 350k only a few years later and we owe 102k. If we do sell once we get our net proceeds we will first do any repairs the next house needs and then pay the principle down with the rest. We want a paid off house in the next few years. We had hoped this house would be it, but areas can change fast and we feel as we become older we need to be in a very safe area with close amenities. Until your 60's you just don't think that way.
1 vote
Ed M, Home Seller, Land O' Lakes, FL
Fri Aug 11, 2017
Rhayward, don't keep trying to get something for nothing. People are not as stupid as you seem to think they are. Make a valid offer and you will get some interest. If you can't afford a house you are bidding on then don't bid on it.
1 vote
I guess you have some sink holes to worry about there in Land O' Lakes, FL. Good advice though!
Flag Sat Aug 12, 2017
Prosper Real…, Agent, Tucson, AZ
Fri Aug 11, 2017
Try reaching out to Home Loans For All. We've had a few clients in this same scenario and Home Loans For All assisted them in being able to "outsmart" those buyers. We've been sending clients to them for a couple of years now. We recommend them to everyone. I'll include a link to them.

Hope that helps!
1 vote
Bill Pentz, Home Buyer, Rancho Cordova, CA
Thu Aug 10, 2017
This is a far more complex topic than is being shared, can be very area specific, and is subject to lots of behind the scenes stuff that most will never know. I know that the banks are almost all just servicing Federal money and charging big bucks in foreclosure and attorney fees, so to earn the maximum on each property it is often in their best interest to keep the prior owners in the home for as long as possible until all the attorney and loan processing fees can be charged. Then with the sale of the home they get rewarded a percentage of how much gets put down rather than total sales price, so they get the same amount when a home sells for $300 cash as they get for a $1.2M home that gets a $300k deposit. Clearly, cash offers win on almost all sales just for this alone.

There are other even more serious problems. The last six homes I tried to buy all ended up going to all cash offers, which is crazy as my offers were also all cash. Three times I just plain got outbid by the big hedge funds like BlackStone & H4R. They overspend knowing they previously locked in so much profit they can hold for a long time and stay aggressive. The other three homes I lost all went to cash buyers who bid much less than me. My first bid just sat waiting then the home sold for $81k less than I bid a day after my 30-day bid expired. Pissed, I wrote next offer good for a year or until the home was sold, whichever came first. One day after my year long offer expired the home was sold for $15k less than my offer. I learned in both cases the actual home sale was handled by a third party hired by the bank with almost zero oversight.
1 vote
I pressed thumbs up, but it gave a thumbs down and I apparently can't reverse it... I'm not sure how to fix it, but thank you for sharing this! This was a new to me!
Flag Mon Aug 14, 2017
Aaa5aa, Home Buyer, New York, NY
Thu Aug 10, 2017
#1 Get Prequailfied
# 2 Make a full offer
# 3 Sign a letter to seller on how much you love the home, and would love it if they accept your full offer price.
# 4 Get set up on Realtor.com to be notified of new listings via text, and act fast to call realtor to view property.
1 vote
Pizzalinux, Home Buyer, New York, NY
Thu Aug 10, 2017
I have lots of experience with this issue. First I'll describe a COMMON situation in making an offer and YOU tell me what you would do. There is a single family residence that has been listed for 180 days. My buyer's agent informs me that suddenly there are three cash offers "above asking" after 6 months of no activity ( no offers). I put this listing on my WATCH list and wait while I keep looking. Three months LATER the house is still listed as ACTIVE and not pending or sold. Interesting! Can you explain this? The house needs NO appraisal since it does not require a mortgage ( "cash buyers"). So here is what I did. I went to the SAME OFFICE as the listing agent and played stupid but asked for a DIFFERENT associate using the same Listing agent broker. YES! I worked, they did not tell me that it had three cash offers etc etc etc. Very interesting I see this ALL THE TIME. Can you explain? I can it is EASY. I have more, I tell the listing agent associate that I want to make a cash offer. She informs me that seller has already made a decision and the house is sold! Still haven't figured it out? I tell my agent lets try "HIGHEST AND BEST" with NO contingencies from me. I am willing to go to an auction highest bidder wins. NO! Seller is firm on this "high" offer. So I learn from my agent that the other cash deposit has been made and it is now pending, but the MLS does not show pending only active. I have seen this DOZENS of times. Have you figured it out yet? I put the listing back into my "watch folder" and WAIT AND WATCH. THREE months later I learn that it is sold according to the County recorder. I checked the name of the buyer and interestingly it is a name of a co-owner of the prop[erty 8 months ago. I chexked ther county recorder further and found three documents. 1) A new second mortgage lien 9 months ago with both sellers name on it. 2) I found a QUIT claim notice from the new buyer on the property DESCRIPTION OF DEED BUT NOT THE SECOND DEED OF TRUST. 3) I find another document three days after the QUIT claim notice on a different property to PAY OF ANOTHER MORTGAGE ON ANOTHER HOUSE using approximately the same amount of the second deed of trust.
I talk to a neighbor and find that in another state the same new buyer placed an offer on a different property. It is obvious what is going on. I contacted the state department of real estate to investigate and they would do NOTHING. Why? I was not named in a transaction to sell or buy. I kept watching. have you figured it out yet? Here are some more tidbits to keep you interested. 1) Early on the morning of the FIRST listing day, I noticed something weird about the listing. The photo of the house was depicting the back of the garage and some trash cans. To me, it looked like they really didn't want to sell the house. So I drove there at 4 am in the morning to look for myself. It was a BEAUTIFUL NEW CUSTOM HOUSE on acreage! That got my interest and of course NO AGENT WOULD RETURN MY CALLS. What else, I found a loan document for $850,000 at the county recorder listed for the property, but the asking price was only $215k. Have you figured it out yet? Hint the Broker for listing and buyers side was THE SAME. When I confronted the Broker he said it war not required to know "everything" about a property. So CAVEAT EMPTOR. GET ALL STATEMENTS AND ASSERTIONS IN WRITING signed and with a witness. Never believe ONE WORD unless it is in writing. AGENT: " Hello good morning! " PUT IT IN WRITING PLEASE! The state contracts ( listing and offers) on each page indicates "GET ALL STATEMENTS IN WRITING." SO I AGREEE. ALL WORDS OF AGENT MUST BE IN WRITING. including the "imagine this is a canvas where you can paint the masterpiece of your dreams. PUT IT IN WRITING. EVERY WORD MUST BE IN WRITING. IMHO Most agents will run from you if you require them to PUT IT ALL DOWN ON PAPER -- EVERY WORD.
1 vote
Mike Ninomiya, Home Buyer, Miami, FL
Thu Aug 10, 2017
Make sure you have you loan commitment in hand prior to submitting your offer. This means you will need to go through the underwriting process prior to looking at homes. Make sure you are working with a lender that can provide that service for you and can commit to closing any accepted offer in 21 days.

Mike Ninomiya
Regional Manager ~ VanDyk Mortgage
1 vote
Susan Gay, Home Buyer, Vidor, TX
Thu Jul 2, 2015
Save your money and pay cash. I pay cash for houses that I buy. It took me a lifetime to save the money to pay cash. It is hard to beat a cash offer. Quick closing, no inspection is needed, no survey is needed, the seller doesn't have to wait for you to get your loan in order. Find a house that a cash buyer doesn't want and buy it. It is the nature of the market. The only other possibility I can imagine would be to add a letter with your offer telling the seller how much you love the house. Good luck.
1 vote
That's the worst advice I've ever heard! I'll been renting my entire life & buying right before I die.
Flag Sat Aug 12, 2017
Yeah right, save $300,000 to pay cash. That's the WORST advice I have heard yet. Young couples cannot do that.
Flag Thu Aug 10, 2017
Mike Slatton, Both Buyer And Seller, Tampa, FL
Thu Jul 2, 2015
We buy a lot of houses cash - http://btgh.com - but most of our offers are on houses that you wouldn't want to buy anyway. There are also a number of hedge funds like BlackStone & H4R buying real estate all over the United States. They buy houses based on very specific criteria - usually block homes built in the 80's or newer, 3 or 4 bedrooms, between 80k to 250k. They employ local investors and agencies to help them search for properties. These are the "cash buyers" you're probably talking about.

The reason they're so successful is because they know the market, call on the properties as soon as they show up on the market, and they offer the asking price or market value of the house. The way you can beat them to one of these houses is to watch for new listings like a hawk, and then make offers over the phone "contingent upon inspection".
1 vote
In the Bay Area, it is 40% cash buyers. It has nothing to do with BlackStone. There isn't much a working person can do to compete with ultra wealthy folks who offer all cash with no contingencies. Realtor in Florida is nasty, and out of touch.
Flag Thu Jul 2, 2015
Anna M Brocco, Agent, Williston Park, NY
Wed Apr 17, 2013
What is your agent advising...always make your best offer within your means.
1 vote
Gpagano, Home Buyer, Brooklyn, NY
Fri Sep 29, 2017
Is hard every time a put in an offer i get the call (There is a cash buyer can you go higher) just walk away can compete with cash
0 votes
Leuamsale, Home Buyer, New York, NY
Sun Aug 13, 2017
Is cash ouers coming with cash only? How about if I get a check written country as cash purchase?
0 votes
, ,
Fri Aug 11, 2017
It is hard to beat cash offers unless your offer is significantly higher that theirs. There are a few approaches that I have seen that produce results here in my market but even the strategies tend to vary by local market. Here are a few ideas that will help.

-Come in with a STRONG offer not just price but other factors may show that you have a strong offer such as the amount of deposit, the closing time frames, the contingencies you include, etc.

-Get fully approved avoid Pre-Approvals and especially Pre-Qualifications the stronger your approval the more confidence you will give the seller you can close also make sure your lender can close quickly 30 days or less is ideal in most cases.

-Change the type of property you are looking at yes a fixer upper is a good approach but usually that is what investors are looking for so they can fix and "flip" but if a property is already remodeled there is less margin for investors so you will usually have less competition and in some cases the price is not that much more so especially when financing it is a small difference.

I will give you an example I had a client that was purchasing a home and was concerned that it was $10k higher than their budget but because the home had hurricane shutters the insurance was about $1k less per year so the monthly payment overall was lower than their budget due to the lower insurance even after factoring the higher price. (Payment was about $50 higher but the insurance was about $80 less per month so it was a NET savings of $30 per month) and they only had to do a few minor cosmetic changes to the home mainly paint to their taste.

I am NOT a realtor and currently only offer loans in Florida please speak to a licensed professional in your area. Hope this helps, God Bless....Psalm 20:4
0 votes
Blayblass, Home Buyer, Brooklyn, NY
Fri Aug 11, 2017
That is a good question. It does make it difficult when your competion pays cash. You could get prequalified for a loan, and be ready with proof of that. Also have an adequate down payment and make a reasonable offer so the seller knows you are serious. The best strategy is to know the market you are working in.
Good luck
Becky
An investor
0 votes
Kboudreau, Home Buyer, Syracuse, NY
Fri Aug 11, 2017
Wow! Annette your answer was mean and unprofessional. Get into another line of work. A Realtor/Broker should be able to supply many alternative solutions. You offered none! You should consider another line of work, perhaps roller derby since you like to punch and jab others. You lack empathy, especially to buyers. The sale of a home is an emotional decision first, and financial second. Case and Point: We did not chose the cash offer, or even the highest offer. We picked the buyer who wrote an endearing letter explaining they loved the property, as we did, and wanted to raise a family and their dog there, as we did. They even included a photo of all of them. We loved passing the torch to another young, loving family. It also helped that they were pre-approved, not just pre-qualified, which meant a closing almost as fast as cash since all closings are slowed when getting into the attorneys queue.

Good luck Rhayward. Hope you have a caring, compassionate, and creative realtor. Stay away from the likes of Annette.
0 votes
Try not getting your panties in a bunch. Annette was being candid, forthright and non-politically correct! The snowflakes in the world want to be coddled, and sung to. Taught how to sing "koom bye yah", and all the rest of that horse crap. They get their feelings hurt easily and then lay down and cry and blame others for their own shortcomings. Stand up, brush yourself off, make a better offer and keep going until you get what you want. Perservere, be tenacious, meticulous and diligent. Stop whining and get your act together!

Now go forth and do great things!
Flag Sat Aug 12, 2017
Proche, Home Buyer, New York, NY
Fri Aug 11, 2017
I think Ms. Holt below gave good advise.
It is tough to get a foothold in a market with a lot of cash buyers. Some tips that helped me.
-Know what you want and what you have to spend. Know the prices in the market you are looking so you can make a confident decision.
-It is very important that the agent and buyer know you are serious and reliable.
-Make sure you are pre-approved for the amount you want to borrow and have that approval letter to show as needed. (consult your lawyer as you may not want to give to the realtor who is involved in the bidding)
-Have enough saved to but down 20% if you can esp. if looking for a condo or co-op.
-Know your market and keep a keen eye out for what you want. Constantly check the listings.
-Look at the property you are interested in as soon as it goes on the market, if it is what you want make the bid right away.**This is key in a cash market. -Make an offer that is realistic, fair and is very close to what you are willing to pay.
-Do your part to move the deal ahead before there is a bidding war.
-Know what real estate lawyer you are going to use and what engineer for inspection if applicable.
0 votes
Angelina Lisa, Home Buyer, Philadelphia, PA
Fri Aug 11, 2017
I competed with a cash buyer. I expressed to them how much I loved the house, neighborhood and school district I let them know this was going to be my forever home and I would love and care for it. I offered 3,000 over asking price. They gave it to me and even gave me sellers assist for closing cost. If you are positive and come into the situation that way outcomes can work in your favor. Good luck!
0 votes
Josephinecol…, Home Buyer, New York, NY
Fri Aug 11, 2017
Make higher offer if possible
0 votes
Byoung, Home Buyer, New York, NY
Fri Aug 11, 2017
Make sure your loan officer puts in remarks, "excellent file", or 'quick close' and also 'Great File'...OR have your loan officer send your full completed up to date file into underwriting as an address that state TBD, To Be Determined, and have underwriter get a preapproval done and then you only have the appraisal to be done and title work, and you can close in 2 weeks, then you are almost as strong as a cash buyer.


Beth Young NMLS #197525
CMG FINANCIAL,, LLC NMLS #1820
TUCSON, AZ 85755
0 votes
Tom Hempel, Home Buyer, White Lake, MI
Thu Aug 10, 2017
It's simple you have to offer more money than the cash buyer.. End of Story....
0 votes
Annette Bash…, Agent, Mechanicsville, VA
Thu Aug 10, 2017
In my experience, I have found that some sellers really care who is buying there home and how they will impact the neighborhood (renters, investors, homeowners). You might want to try including a personal letter explaining to the seller what you love about their home and why you want to live in their neighborhood. It has worked for many of my clients.
Good Luck,

Annette Bashensky
ERA Woody Hogg and Assoc.
Metro Richmond VA Real Estate Leaders
0 votes
Annette Bash…, Agent, Mechanicsville, VA
Thu Aug 10, 2017
Hello,

In my experience many homeowners really care who buys their home....it is not always about the cash deal. Saying that, as the buyer you should write a heartfelt letter to the sellers explaining your situation and why you have chosen their home...sometimes it works.
Best of luck!
Annette Bashensky
ERA Woody Hogg Real Estate
Metro Richmond VA
0 votes
Bybrabold, Home Buyer, Downingtown, PA
Thu Aug 10, 2017
There is no hard and fast way to beat cash offers. The best you can do is to go in non-contingent and not rely on that proceeds from the sale of your home and qualify for your mortgage with your existing mortgage. Some profit-sharing and 401(k) plans allow you to borrow for homebuying. when you borrow there are no tax penalties and this would give you the cash to settle without relying on the sale of your existing home if you have one. Otherwise sadly, nothing beats an all cash offer and we lost several homes due to this as well so sorry this happened but you will find a home, hang in there..
0 votes
Trepif, Home Buyer, Warren, AR
Thu Aug 10, 2017
Short Short is you can't. People are enticed to large sums in their faces. Even realtors prefer the cash offers. Private mortgage insurance isn't required on cash homes as well. The only way to beat us is to join us. I may be in a rural area, but $10,000 got me 1.4 acres and 1300 square feet. Just look long enough and something in your cash budget will open up.
0 votes
Extremo1, Home Buyer, Memphis, TN
Thu Aug 10, 2017
I don't think "Difficult to seller" is the way to explain...Are they getting full price, quick closing: two weeks, rather than wait for inspection and then Appraisal, and demands from buyers, the drama of agents created when there is no drama, but they make sure to put in an ACT ( to pretend they care), and then to find out that buyer have issues with their credit, or have no money after all; before that dealing with inspector (creates and stage damages where there nothing to begin with) and then the appraisal, they take upon themselves to kill the deal in the process.

And yes, Listing agent is "giving HELL to the seller", is the best offer he/she listing agent claims even though they might pay less but assure a fast closing with no issues and they get paid: Commission.
0 votes
Coachmonica2…, Home Seller, New York, NY
Thu Aug 10, 2017
From my experience in Miami, many offers are made as cash, yet are financed.
Technically all offers are cash, since the bank that loans money, writes a check at closing to the seller.
The difference and draw back in presenting the offer as a cash offer, is the timeliness and execution of inspections. Essentially, the offer may be lower, but buying as is.
My suggestion as a flipper in Florida; watch your market closely, buy for sale by owner if possible, offer just a bit more than the cash buyer, but always if the market merits it.
Monica
0 votes
Bob Baronas, Agent, Flagstaff, AZ
Thu Aug 10, 2017
Cash buyers can be difficult to bid against. Keep in mind that all cash offers may not always be the best deal in a transaction. Sellers can choose any offer that they please for any reason and I have been witness to cases where they not only don't pick the highest bid they choose to pick someone with a loan over cash.

If you are working with financing, don't despair. Yes, you are at a disadvantage, however, a strong and clean offer may still put you in the running as sellers evaluate offers on many different variables.
0 votes
Gsilpeoples, Home Buyer, Brooklyn, NY
Thu Aug 10, 2017
Dear Rhay, First don't give up because your home is out there! With approved financing it's like buying with cash. Your agent should help you shape a competitive offer on a property and your 'financed' cash will look just as good. I recently sold a property and went with the highest bid that also happened to be a cash buyer. That buyer ran into a few problems that caused us to wait until all the cash was in place. Then the buyer asked for a number of contingencies that we did not allow. So an all cash buyer is not all they say they are and many sellers are beginning to figure it out. So go with strong offer with the least or no contingencies. The best to you!
0 votes
Mikez, Home Buyer, Cumming, GA
Thu Aug 10, 2017
Save your money and become a CASH buyer too.
0 votes
Ghamilton, Home Buyer, Brooklyn, NY
Thu Aug 10, 2017
Denver, CO is a very hot market with similar problems. Different people approach the problem with acceleration claues, fast closes, no inspections, etc. I find many sellers like to know a bit about the buyer. Try putting together a one page letter with a picture. I have had buyers simply say things like "I love the area", new home buyer, great school district, whatever is meaningful to you. Good luck.
0 votes
Mike Hawkins, Home Buyer, Windsor, CA
Thu Aug 10, 2017
I think you'll find you can sometimes beat them at their game. Make sure you are pre-qualified for your loan and don't have contingencies in your offer except perhaps for a home inspection. You agent should give a short story with your offer to humanize you when it's possible. You might want to add a few thousand above list to your offer to stand out if the property is worth it to you and makes sense.
0 votes
Labloverdc, Home Buyer, Crystal River, FL
Thu Aug 10, 2017
The answer is simple, but you may not like it--offer more money. Depending on the market you are in, you may have to offer full price, a little more than full price, or perhaps substantially more than full price. And while that hurts, if you plan to keep the home for a long time and are in an area of rising prices, it may be your best option.

Think of it from the seller's perspective. In most cases, at close to the same price a seller would prefer a contract with no financing contingency, because it's one less thing that can go wrong. But most sellers also want to maximize what they get out of the house, so if your offer is substantially higher, and you can show you are well-qualified, some sellers may take a chance and accept your offer.

One other thing you are fighting is that cash offers usually allow quick settlement, which you might not be able to match. So again, you compete by offering a higher price.

Finally, one other big variable is inspection/repairs. It may help to arrange a pre-inspection, and if it's satisfactory make your offer not contingent on an inspection. That's a little risky, but not uncommon in really hot markets.

The bottom line is to think like a seller, figure out what would make you accept an offer over a full cash offer, and do that. In all probability, you may not get as good a deal as you would like, but that's the simple truth when there are a lot of cash buyers. You still may end up with a nice house which you enjoy and which appreciates over the long haul, so the extra $10-50K you may spend will end up being worth it.
0 votes
The Florida market flucuates so much that unless your in for the long haul you can really lose your butt. Sure, you can say that anywhere but if you look at sales history of these homes in FL they are all over the place, 198 to 240 to 365 to 200 to 300 to 435 all in about a decade
Flag Fri Aug 11, 2017
Katsllittlek…, Home Buyer, Sierra Vista, AZ
Thu Aug 10, 2017
i disagree i recently bought a house . we were cash buyers looking for a move in ready home. we also put full offers in on a couple of nice homes and for whatever reason they took the other offer over ours this happened at least 5x. We finally found the home that was right for us. So i dont think cash buyer or financed makes a difference. hang in there im sure you will find the right home.
0 votes
no1byu, Home Buyer, Pocatello, ID
Thu Aug 10, 2017
I put in a full price offer plus $1000 and still lost the house to a California flipper who came in with less money but a cash offer! I spoke with the bank and they said that the lower offer was more desirable to the bank since they would almost immediately turn over the bank-owned house and would not have to wait 2 months for my mortgage to process.

The good news is that they flippers were not able to sell the house for nearly a year! The bad news is that they put $20,000 into it, covered up the problems and made $60,000 on the sale!
0 votes
Hiker55, Home Buyer, Brooklyn, NY
Thu Jul 2, 2015
Despite the somewhat nasty reply from the Remax realtor-I agree. I had everything in place, and offered $10,000.00 over the asking bid, and lost to an all cash buyer. I was told by a realtor after the fact, that when a house is owned by a bank-which was my situation, the bank always goes for the cash loan. He further stated that you can always say you have cash, and then proceed with the loan once you win the bid.
0 votes
I had a buyer try to do that to me - made a cash offer, outbidding two other bidders (one cash, one mortgage contingent), then once we accepted their offer they demanded a mortgage contingency. refused, and my home went back on the market. Meanwhile, the two other interested parties had moved on. It was a sh*tty thing to do, and cost me attorneys fees and additional months of showing the home. And this is in Manhattan, a hot market.
Flag Thu Aug 10, 2017
You can not "say you have cash" unless you do, because the seller agent is going to ask for your Proof of Funds, or in this situation the bank will surely verify that before they contract with you. For clarity if you do indeed have the cash, and you still want to finance that is an option. One might want to do that for cash flow reasons.
Flag Thu Aug 10, 2017
Tim Reynolds, Home Buyer, Silver Spring, MD
Thu Jul 2, 2015
Make them "an offer they can't refuse" if ya know what I mean
0 votes
Idolidia Glez, Home Buyer, New York, NY
Thu Jul 2, 2015
No tips..no answers.money talks!!!!
0 votes
Scott Godzyk, Agent, Manchester, NH
Mon Jul 22, 2013
Make a better offer. Offer your best price first, close within 30 days and leave out contingincies.
0 votes
Rhonda Holt, Agent, New York, NY
Thu Jul 18, 2013
I know exactly what you mean because cash buyers are out like vultures right now and it is hard to beat them when they are not dealing with a bank and all their requirements and they can close faster.

But you have something over them and that's a more realistic offer price. Most agents are annoyed by cash buyers because they come in with their fast talking and then give you a super low price and agent and seller loses money on the deal.

Another way you beat cash buyers is to call on a property immediately forget emailing just pick up the phone. Once you get in to view the property let the agent or broker know how much you want it, but not in a desperate way.. Then make sure you have your pre-approval in place with your bank rep's number, lawyer info, credit report and copies of your income to let them view on the spot so they know you are super serious about the property.

Don't feel that cash buyers can beat you all the time because I pass them by based on the things I said above and work with a buyer that really wants the property and will do and provide the information I need to get it. Hope that helps!
0 votes
Fine---but by YOUR own admission---cash buyers want lowball prices---this tells me you pay HIGHER. You can profit when you BUY low and sell high ---there are MILLIONS of properties for sale. Why pay more than you must? I am a cxash buyer---and make more money on THE BUYING part of a transaction. Sellers can always lose money--I know-I am one of the people they sell to. buy Low--Sell High---its just business. I ALWASY look for the FIVE D's of real estate--more important than asking price. When a person sells a house they are announcing to the world---that they (SELLERS) would rather have the money than the house. Buyers tell the world --money means NOTHING to me---I want the house instead of the money
Flag Thu Jul 2, 2015
Not all cash buyers are investors. We were cash buyers when we bought our home here in n california. We had sold our home in England and had that money available. We will have that money available again if we decide to sell here and move so once again we will be cash buyers. We buy a house to live in just happen to be in our late seventies and because we had cash available when we emmigrated we will always be CASH buyers. Too much generalisation here fro real estate agents etc.
Flag Thu Jul 2, 2015
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