Competing with all Cash Buyers when Buying a Home in Las Vegas

Competing with all Cash Buyers when Buying a Home in Las Vegas

Competing with all Cash Buyers when Buying a Home in Las Vegas. Buying a home is not easy, but it is even more difficult when you are competing with all cash buyers.

In today’s hot market, bidding wars have become the norm. With many out-of-state buyers and property investors looking for a great deal, all-cash offers are also becoming common.

A cash offer can seem tempting for sellers since it offers the possibility of a faster closing. But despite this perk, cash buyers don’t always win.

Many times, they make low offers or demand costly extras, both of which will mean lost cash for the seller.

Want to boost your chances of getting the home you want when competing with cash buyers? Here are some things to consider:

1. Include a pre-approval letter

Get your financial documents in order, find a mortgage lender and get pre-approved. Additionally, a note from your lender stating that you’re a well-qualified buyer can go a long way.

2. Work with a fast-moving lender

Average closing times vary significantly from lender to lender. Choosing one known for fast transactions shows sellers that you’re willing to move at their pace. Get in touch if you’d like a referral to a trusted lender.

3. Offer more earnest money or a bigger down payment

More money down means you’re serious about purchasing their home, which gives sellers more confidence in your offer.

4. Make an appropriate offer

We’ll discuss local comps to assess the home’s value, allowing you to make a solid bid right off the bat. Low offers are likely to be dismissed without a second glance.

I hope this has helped you when it comes time to make an offer and you have to compete against an all cash buyer.

Also, if you are thinking about buying or selling in the Las Vegas Valley, CLICK HERE or you can call me at 702-370-5112.

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Angela O’Hare, Realtor
Home Realty Center
Lic. #180246
702-370-5112
[email protected]
www.neighborhoodsinlasvegas.com