If going to pay in cashi, is there any discount? Which documents shall I present to get a tour of the property?

Asked by Ana Tirado, Houston, TX Mon Jun 17, 2013

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Irina Karan, Agent, Aventura, FL
Mon Jun 24, 2013
Hello Ana,

If the property is in poor condition - cash is the king - because the buyers would have time financing their purchase. If there is plenty of buyers in the area, and the house is in ok condition, it makes sense for the seller to wait for a pre-approved buyer to get a mortgage - and get paid in retail price.

Usually, it is a proof of funds that you'd need to show when making an offer.
However, you normally are not obligated to provide the proof of funds prior to your preview of the property. It is more of a good business practice for the agent to check if money is there - so that no one is wasting their time.

Hope this helps!

Irina Karan
Beachfront Realty, Inc.
0 votes
Saul Carrillo, Agent, Houston, TX
Mon Jun 24, 2013
We have plenty of realtors here that can help you with your transaction. What you need is someone who you are comfortable with to help you make informed decision and help you get the best bang for your buck Good luck

Saul Carrillo
832-527-2268 saul.carrillo@carringtonres.com
3333 Alabama, Suite 125
Houston, Tx 77098
License No. 0573768 Atlantic & Pacific Real Estate (US), LLC
0 votes
Persis Behra…, Agent, Cinco Ranch, TX
Tue Jun 18, 2013
Hello Ana,

As you can see from all the replies you have received already, most everything is negotiable. Cash is certainly a lucrative incentive for the seller, however, it all depends on how appealing the cash value is.

If you work with a realtor, you will not have to hassle with the task of having to call every property to get an appointment, or have to wonder about the documents that need to be signed to write an offer that can eventually become a contract. A realtor representing you as a buyer will be very effective in guiding you through the entire transaction and answer all your questions. Certain aspects of the transaction can get overwhelming if you are new to this, and having someone on your side, will make the process smoother for you. As indicated by my peers, it does not cost you to have someone represent you as a buyer.

Have you already found a property you like? Let me know if you would like to find out more details on it.

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Mark McNitt, Agent, Houston, TX
Mon Jun 17, 2013

You need to work with a Realtor that will represent you and your family. In the Houston market, the sellers typically (not always, but typically) pays the buyer's representative their commissions when making a sale. So you can hire a Realtor to show you this and other properties and not worry about paying their fees.

Sometimes there are discounts, but we would need to research what is going on with the home. How long has it been on the market, is it priced well, etc? You don't need to have anything except for proof of funds (like a bank statement).

Let us know where the home is and we can review it for you. Thanks!

Mark McNitt
m 832-567-4357
Bernstein Realty, Inc.
0 votes
Carolyn Wolfe, Agent, Houston, TX
Mon Jun 17, 2013
First find you a good Buyer's Agent to represent you!

The seller pays all commissions and you need someone in your corner for negotiations.

Other than that you would need proof of funds statement to go with your offer.
No need to have them in hand to see a property.

Check out my and my colleagues websites to find the Buyer's Agent most suited to you.
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Jaime Chacon, Agent, Houston, TX
Mon Jun 17, 2013
Ana the seller is going to get all the money cash or finance deal, so he really does not care, you do not need any document to see the property, should look for a realtor to make an offer, and he might advice of the right price of the property.
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Al Geffon, Agent, Houston, TX
Mon Jun 17, 2013
You don't need anything specific to see the property ... just let a Realtor make the showing arrangements. There is no "discount," since you can offer whatever price you wish, then negotiate terms of sale that would be acceptable to both parties. All you'd need is proof of funds, to be submitted with your offer. A Realtor can handle the transaction ... and there's no cost for a buyer, so representation is a no-brainer. If you'll send me something that will show the property you're interested in, I can e-mail you the comparables (both sold and active) so that you can get an idea of what the home is worth in today's market.

Understand that this is a sellers' market, and your offer isn't likely to be the only one, unless the home is in rough shape, located in a less desirable area, or drastically overpriced. Yes, cash offers have a bit more clout, but "lowball" ones are generally rejected.

Get in touch and I'll send you some helpful information.

Regards ...

Al Geffon
(713) 213-6350
Web Reference:  http://www.har.com/algeffon
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Margie Johns…, Agent, Cypress, TX
Mon Jun 17, 2013
The advantage of paying cash over financing is that a lender will require the home to appraise for the sales price where a cash buyer can decide to purchase even if the home does not appraise. In a market where sales prices are on the rise due to a shortage of inventory, an appraiser may not be able to find recent sales to support a contract purchase price. Even if there are several buyers willing to pay over what homes have sold for in the past year, if the appraisal comes in below the contract price the buyer will have to pay the difference, the seller will have to drop the price, they could come to a compromise or the sale won't go through. So in actuality being a cash buyer could win you the contract over a financed buyer, but giving you a discount for paying cash negates the advantage to the seller of your paying cash. If you’re looking for a bargain there are still foreclosures and short sales out there who's seller's also love cash buyers.

My advice is to select a realtor to assist you with your home purchase. Representation costs you nothing but can save you thousands.
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Cassandra Vi…, Agent, Houston, TX
Mon Jun 17, 2013
Good afternoon,

You'll most likely need a proof of funds statement from your bank, and everything is negotiable as far as making an offer on the home.

Cassandra Vickers
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Connie Holmes, , Houston, TX
Mon Jun 17, 2013
The only advantage of paying cash is that a seller will generally accept your offer over someone getting financing because they can close faster, closing costs are less and they don't have to worry about getting close to the closing date only to find out that the financing fell through. You should have your own agent representing you. If you do not already have an agent I would be happy to assist you in your search.

Connie Holmes
Realm Professionals
0 votes
Kevin Sechel…, Agent, Houston, TX
Mon Jun 17, 2013
Well you will need proof of funds when placing an offer... You might be able to talk a list price down when offer cash but in this current Houston MArket that might not happen. (Inventory Shortage)

You will not need to present any documentation to just view a home!

Let me know if you need any other help..

Kevin Sechelski
0 votes
Diane Schrak…, Agent, Houston, TX
Mon Jun 17, 2013
Hello Ana,

Which property are you asking about. Cash buyers definitely look more attractive than financed buyers. I would love to show you the property, just let me know the address. All you would need to send me is proof of funds from your financial institution. I hope to hear from you soon!

Diane Schrakamp
Total Real Estate Services
0 votes
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