How does an all-cash offer work in when buying a home?
Well, right now, were in one of the hottest sellers markets weve seen in 25-plus years. There are many more buyers than there are properties for sale. Most homes are being sold in bidding wars, and buyers are doing what they can to make their offers stand out in what is often a sea of bids. So, they tell the sellers they will buy in an all-cash transaction. This means the buyer is willing to walk away from the deal, including any cash put down for the good faith deposit, if the deal doesnt go through for some reason, like they cant get financing.