Originally Posted by hatt
Originally Posted by Leo99
10% isn't low balling.
I'd expect a significant discount if I had cash in hand.
What differences does it make that the seller doesn't have a mortgage?
In a horrible market or special circumstance where the sellers needs to close in ASAP cash might bring a big discount. Not so much in active markets.
If you need to sell your house in order to buy a new one, you are locking in a contingency or taking the risk if you go without a contingency. If one buyer has cash in hand and the other has a contingency on them selling their current house, the cash in hand looks a lot more attractive.
Originally Posted by Leo99
10% isn't low balling.
I'd expect a significant discount if I had cash in hand.
What differences does it make that the seller doesn't have a mortgage?
In a horrible market or special circumstance where the sellers needs to close in ASAP cash might bring a big discount. Not so much in active markets.
If you need to sell your house in order to buy a new one, you are locking in a contingency or taking the risk if you go without a contingency. If one buyer has cash in hand and the other has a contingency on them selling their current house, the cash in hand looks a lot more attractive.