All-cash buyers are fast increasing in number. Although cash-only transactions can be faster, cheaper, and far less stressful than purchases that are made with third-party financing, it is still possible for buyers to submit offers that garner attention without promising all-cash payouts. Following are a few things that you can do to beat cash offers when fighting to land the home of your dreams.
Be Willing to Pay a Bit More
Cash buyers often have a sense of entitlement that credit buyers do not. Thus, they may be seeking greater discounts or have laundry lists repairs that they want performed. Most sellers would far prefer to work with buyers who are willing to pay closer to their asking price and who only want a nominal amount of improvements. Try to aim your offer as close as possible to the seller’s listed price and remain flexible in your demands.
Be Flexible on Closing Timeline
Making the sales process convenient and easy for the seller could help you outshine buyers that have come with cash in hand. Some sellers need extra time to close escrow on their own new homes for sale in Irvine. Others are eager to close these processes out as quickly as possible. Working to meet the needs of the seller rather than aggressively pushing your own demands will automatically make your offer more appealing.
Personalize Your Offer
Many cash buyers invest in properties with the sole intention of fixing them up and flipping them. They do not intend to establish any emotional attachments to their purchases. Conversely, most sellers have strong emotional ties to their house for sale in Irvine, and thus, they are more likely to connect with buyers who intend to love and cherish these properties themselves. Personalize your offer by writing a letter to the seller that describes your interests in the home and your short and long-term goals as a new homeowner.
Having the Inspection Completed Immediately
Pay a bit extra to have the inspection performed within days of your offer being accepted. This will show the seller that you are serious, organized, and committed. It can also expedite the sales process, which is important if the seller is eager to wrap things up quickly.
Still searching for your dream home? Let us help! We specialize in houses, condos, and townhomes for sale in Irvine and can help you navigate the home buying process, bidding wars and all. Check out our inventory and give us a call at (714) 454-6304!