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Why cash offers are powerful even in slower markets

Location
Seattle, Portland, San Francisco
Publish Date
2021/09/30

While the strength of a cash offer is most obvious during a bidding war, cash offers are valuable in less competitive markets, too. Even when an offer is the only one on the table, cash buyers can outweigh tens of thousands of dollars in the offer price. In 2020, 53% of buyers won against higher offers. The avg difference between a winning cash offer and the highest bid was 2.35%, or $18K. Cash offers empower buyers to avoid finance contingencies, so the seller can be sure the home is sold and don’t have to relist. Avoiding the financing period makes the closing process quick. While financed buyers typically move in 45-days, cash buyers move in as few as 10-days. Cash Offers often come without financing, inspection, or appraisal contingencies; a simple offer just makes it easier to say “yes” and seal the deal.

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