Cash is king for buy­ers

Why would you ac­cept a heav­ily con­di­tional deal with a long set­tle­ment when you can ac­cept a quick, easy, cash, un­con­di­tional deal for a few dol­lars less?

Weekend Gold Coast Bulletin - Property - - FRONT PAGE -

There’s an old say­ing in busi­ness that “cash is king” and it cer­tainly rings true for real es­tate buy­ers.

Cash is a great tool to gain an ad­van­tage when you are try­ing to buy a home.

Se­ri­ous ven­dors gen­er­ally have a se­ri­ous rea­son why they are selling.

They might be mov­ing closer to work or fam­ily, look­ing to down­size or up­size, need money for a new op­por­tu­nity or are ex­pe­ri­enc­ing a change in their per­sonal cir­cum­stances.

Many home own­ers ag­o­nise over the de­ci­sion whether to put their home on the mar­ket, but once they have com­mit­ted to the move, they are of­ten very keen to get mov­ing.

And yet, for ex­pe­ri­enced prop­erty play­ers, con­tract ne­go­ti­a­tions can some­times feel like a game of ping pong, back and forth and back and forth with of­fers and counter of­fers be­tween the buyer and seller as one side tries to get an ad­van­tage.

This form of ne­go­ti­a­tion seems how Aus­tralians have been taught grow­ing up on how real es­tate is bought and sold. How­ever, price is nor­mally not the only con­sid­er­a­tion when it comes to seal­ing a deal.

The set­tle­ment date, the amount of de­posit and con­di­tions such as fi­nance and fi­nance ap­proval are all items that need to be con­sid­ered se­ri­ously.

Hav­ing cash in your pocket or your fi­nance al­ready in place means that a buyer can of­fer an ear­lier set­tle­ment, a larger de­posit or no fi­nance clause as part of their of­fer.

All of these can be very ap­peal­ing to sell­ers when they are weigh­ing up their op­tions.

Sell­ers love buy­ers who are ready, will­ing and able to com­plete the deal quickly.

Why would you ac­cept a heav­ily con­di­tional deal with a long set­tle­ment when you can ac­cept a quick, easy, cash, un­con­di­tional deal for a few dol­lars less? So buy­ers, as the scouts say, “be pre­pared”. Happy house hunt­ing.

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