Should You Accept A Cash Offer On Your Home?
By Jason Boone
As we wind down the year it’s still not uncommon for homeowners in Bend who have listed their homes for sale to receive cash offers.
Although one might think that your answer should be YES to receiving an all cash offer on your home the reality is that you should think about all offers first before making the decision to accept the cash offer.
Why Cash Offers Are Great
When you accept a cash offer on your home you won’t have to deal with the prospect of a buyer who doesn’t have a mortgage or has to wait to get pre-qualified for a mortgage loan.
Cash is king and you will have confidence that they will be able to back up their offer and close sometimes in as little as 6 days compared to 32 days with a traditional mortgage loan.
Before You Accept a Cash Offer
With historically low mortgage interest rates these days its more likely that you will receive financed offers versus cash offers for your home but if you do receive a cash offer you should take the time to evaluate both offers and determine which one will net you the most for your home.
Let’s say you receive two offers; one is a cash offer while the other is a financed offer, but the financed offer will net you 30% more than the cash offer, which one will you choose? In this scenario it makes more sense to choose the financed offer versus the all cash offer.
To get more Real Estate tips and advice subscribe to my blog today or to view homes for sale in Bend contact me, Jason Boone, Principal Broker with Duke Warner Realty | Skjersaa Group by clicking here to contact me through my website or calling me at (541) 383-1426.