Cash buyers generally have an advantage when there are multiple offers on a property. Just be sure you understand the advantages and disadvantages of paying cash. The biggest disadvantage being that since you do not have a mortgage, there is no tax write off. Also, if you are in a competitive market, or a market considered a “sellers market” the cleanest offer with the best terms generally wins out. Your cash offer may present less chance of falling through. The DiMora Team are real estate experts in the Novi and Northville neighborhoods and in our experience, it is not always the highest price that wins. Many times we’ve had lower offers accepted because we presented terms that were better overall. Use your cash to your advantage, but think of your whole offer. Maybe closing fast but giving the seller some extra time to move out would help them out and save you thousands in the purchase price. Don’t wait too long though to act, you could lose the house you want. Take action as soon as you can. Check out below to see what sold in Crosswinds West in January 2016:
22102 Edgewater, Novi: 2 bedrooms, 2.1 bathrooms 1,134 sq. feet, 1 car garage, Sold Price: $135,000
If you work with a good buyer’s agent and offer the right price and terms, you could very well be the winner of the bid. It is important to have a realistic expectation of value. Cash sometimes will help you buy at a lower price, but let your agent guide you in what a reasonable “discount” expectation is. For more information on Crosswinds West, or similar Northville or Novi neighborhoods such as Country Place, Lakewoode Parkhomes and Highland Lakes, contact The DiMora Team today at 248-505-7728 or email@example.com.