Cash buyers always have negotiating power, if they can provide proof of funds. Sellers are more likely to consider a cash offer vs an offer that does not have loan pre-approval. You can ask for a discounted price, and might get more consideration if the seller is in a hurry and wants to close quickly. Just because you are a cash buyer does not mean you can buy for a dramatically low price, it depends on market conditions and seller motivation. A pre-approved mortgage is just about as good as cash offer, except that a cash purchase can probably close more quickly and possibly without the need to involve an appraisal in the process.