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Buying a Home with Cash? Whoop-de-do…

By in Buyers with 0 Comments

Sometimes an offer will come in on a listing of mine that’s significantly lower than the asking price.  The buyer’s agent will make sure to note, “It’s ALL CASH!”  If people could speak in all caps, that’s how they’d say the “all cash” part.

But the funny thing is, in all but a very few instances, “all cash” doesn’t matter AT ALL to the seller.

These are the few instances:

  1. Time is of the essence, the house needs to have been sold yesterday, and an all-cash buyer can own the house within a week.
  2. The house is overpriced and a bank would never appraise it for the price the seller is asking and the buyer is offering.
  3. One owner wants to stick it to the other owner — “Here, I sold the house for a dollar, here’s your fifty cents, now get out of my life!”

In nine years in real estate, I’ve seen #1 once, but I’ve never seen #’s 2 and 3.

A cash offer does not net anything additional to the seller, so why should they care how the buyer is buying it?  Why should the seller let the house go for a song simply because the buyer will have fewer associated costs in purchasing the house?

What’s more, it’s all cash in the end.  If the seller is able to receive some proceeds from the sale of their home, it gets deposited in their bank account or they pick up a check for the amount, or they roll it in to the new house they’re buying.  It all spends the same.

So forgive me if I don’t get excited the next time I hear that a buyer is paying “ALL CASH”, because it doesn’t matter AT ALL.

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About The Author
Cari McGee

My husband and I came to the Tri-Cities in 1994, and we thought it would be a temporary stop on our way to larger cities. He was a television sports anchor at the time, and we planned to go wherever the "next step up" took us. Twenty-plus years later, we're still here and we've loved every minute of it! We have two children now, and we've found the Tri-Cities area is a wonderful place to raise a family. It's a great place to do outdoorsy things -- I like to hike Badger Mountain or run along the river path. I also love reading ... by a cozy fire in the winter or a beautiful picture window in the summer (with the A/C on!). I've been a licensed Realtor since 2004. I earned my managing broker's license in 2016, which means I can run my own brokerage, or create a team of real estate agents and supervise them, which is exactly what I did when I formed the Cari McGee Real Estate Team in 2018! We have administrative and marketing personnel, as well as additional agents to serve you. I became a director of the Tri-Cities Association of Realtors Board of Directors in 2016, became Secretary/Treasurer of the organization, and was elected to Vice President in 2019. Want to talk about real estate? Click here to schedule a meeting with me!

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