Want to Sell Your House in Washington DC and debating if I should Sell it to a Cash Buyers or someone Taking Out a mortgage?
The average person looks at this question and does not care because all they are concerned with is if the money will eventually make it into their bank account or pocket.
Cash Buyers are often more attractive to the knowledgable home seller. In a competitive market like the Washington DC area, a seller is likely to take a cash offer over other offers because they don’t have to worry about a buyer backing out due to banks denying financing.
Buyers who pay cash usually have more flexibility on their offering prices and contingencies.
A cash home purchase also has the flexibility of closing faster (if desired) than one requiring financing, which could be attractive to a seller who just wants limited hassles when trying to sell their Washington DC area house. However, those benefits to the seller do not come without a price. A cash buyer might be able to purchase a property for a lower price and receive a cash discount. Often times cash buyers will help you with closing costs, as oppose to the other way around when a home owner is selling to a purchase looking to purchase the house with a mortgage.
Keep this in mind when you’re trying to sell your Washington DC area house! Cash is King! Realtors and Brokers agree!