Is a Cash Offer Always Better Than a Financed Offer?

Cash offers are usually more appealing than financed offers, but as you’ll see today, there are other things to consider before you make a decision.

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Are cash offers always the best offers when it comes to selling your home?

I just recently had a client who faced this same question. They listed their home for sale and received two offers—one of them cash, one of them financed. The cash offer was about $10,000 less than asking price, but it didn’t require any contingencies or inspections. Furthermore, the buyer wanted to close quickly in 15 days. The financed offer, on the other hand, was at asking price, but that buyer wanted a multitude of inspections done and needed a larger closing period.

There’s more than meets the eye when it comes to cash offers.

In this instance, my seller went with the cash offer. In fact, they were happy to do so. The price was lower, but the quick closing period and the lack of inspections and closing costs were more than a fair tradeoff.

If your home is on the market and receiving multiple offers, though, should you always go with the cash offer? It depends. You have to consider other variables within the offer, like how fast it’s going to close and how many inspections it will require, and decided how important those variables are to you.

If you have any other real estate questions, please feel free to call, email, or text me. I look forward to helping you!