The majority of the time if you pay cash for Spring Texas real estate you will get a discount. The real question is not will you get a discount but how big of a discount. The answer depends on how big of an advantage cash is to the seller.
The biggest discounts for cash will be on properties that are not available to be financed. Properties unavailable for financing are typically foreclosure properties that are in terrible condition. The owners (banks) of these properties know they need to provide significant discounts to attract the cash buyers.
The discount will depend upon the overall condition of the property, how long the property has been on the bank’s books, and how motivated the bank is to dump the property. In the Spring Texas area, I have seen lenders sell cash only properties at 10% to 20% lower than market value.
The value of cash to a seller (bank or individual owner) is much less if the house can be financed. Why? From the seller’s perspective he wants to sell his home to whomever will pay him the most for it. Whether the money comes from the buyer directly or whether it comes from the buyer’s lender doesn’t matter to the seller. Its all cash to the seller.
A cash buyer does offer the seller some advantages including a quicker close, the elimination of potential appraisal issues, and an assurance the transaction will not fall through due to a buyer’s inability to secure financing. In situations where the seller has two buyers both offering him the same price for his Spring Texas house and one buyer has cash and other buyer requires financing, the seller will choose the cash buyer.
If the seller has only one offer and it is from a cash buyer, the seller is going to consider the advantages the cash buyer offers in conjunction with the market value of his house. Sellers will give a cash buyer a discount but the discount is usually in the 1% to 5% range.
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Jill is as professional as they come in the business. My wife and I moved from California after job relocation... read moreJill is as professional as they come in the business. My wife and I moved from California after job relocation and selected Jill after reviewing her website and learning more than we thought about the Houston area.
When we met Jill, she first came across as honest, professional, and caring. She lived up to the expectation. She helped guide us in choosing the best community, SummerWood, for our situation. Jill was never pushy, impatient or unprofessional when we turned down several homes which fit our initial description. Several times we moved the goal line and changed our preferences and each time time Jill asked for clarification, gave us a professional opinion and went to work.
Our home closed before we could arrive in Houston and Jill kept our key and ensured we were catered to until we moved to Houston.
When we thought were were going to have problems with closing before my assignment started, it was Jill who went ahead and researched temporary housing for us (without me asking). She worked with our lender and represented our interests until we could arrive in Houston.
When we did move in, we got a welcome mat at our front door, gift card to a restaurant, and a list of vendors we would need to begin life in Houston.
My wife and I definitely view Jill as the Realtor to work with. She is friendly, intelligent, and she dresses nice too. Too much to list, all around nice lady. Met her husband too and I'm still trying to decide who is nicer. read less