9 ways to crush all-cash buyers
Inspect in advance
Most buyers make offers contingent on a home inspection so that if there’s anything major wrong, they can back out.
It doesn’t have to be that way.
Ben Kruger was a listing agent on a property that received eight offers the first week, some financed and some all cash. The all-cash offers had lengthy inspection windows.
"An agent representing a financed buyer reached out to me, explained that their buyer was very serious and asked if they could complete inspections before their submission of an offer," says Kruger, a Beverly Hills, Calif., real estate agent. "My seller agreed, and the buyer completed a general inspection, chimney inspection, foundation inspection, sewer line inspection and HVAC inspection."
The buyer then submitted an offer with no inspection contingency.
The seller accepted the financed offer even though it wasn’t the highest offer or an all-cash offer.
"From my seller's point of view, this buyer had shown a significant commitment to the property and a strong desire to close," Kruger says.