5 Reasons Why an All Cash Offer On Your House Is Better

In a hot market, homeowners need to be ready for whatever the home sales experience might bring. Of course, you want to make the most money possible when selling your home while ensuring the process goes as smoothly as possible. That means being informed about every step of the sales process. 

When you put your house on the market, you go in with high hopes and your fingers crossed. You don’t know how many people will be interested in your home, or if the offers will meet your expectations. However, as time goes on – and if you’re fortunate –  you should receive several offers on your home. You may end up in a situation where you have to decide between two or more offers that all sound reasonable. 

A few factors make an offer stand out from the rest. Of course, the most obvious is a higher monetary amount but the type of offer made by a prospective buyer is influential too. Cash offers are often the most desirable type of offer. Generally, in a seller’s market or a bidding war, a cash offer will win.

Generally, in a bidding war, a cash offer will win. After all, they can give a seller an almost-instant quote on their home online, make a cash purchase, and facilitate a quick closing process.

In this article, you’ll learn more about offers, the home-buying process,  and why all-cash offers are better than other options. Understanding the benefits of cash offers can help you make a good decision and get the best deal when selling your house.

Why Is An All-Cash Offer Better? 

In a word: Convenience. Why wait for something when you can have it sooner and with less work on your part? 

Cash buyers are ready to close the sale. They have the funds for the home up-front, so there’s no guesswork and much less paperwork involved. You can usually sell your house faster and more easily when the buyers are paying cash.

Advantages of an All-Cash Offer On Your House 

You’re probably thinking, “Okay, so an all-cash offer is better because it’s quicker and more convenient, but WHY is it that way? To understand why cash buyers have an advantage, you have to understand the home-buying process and how it differs when the offer is in cash. 

Often, when someone wants to buy a home, they don’t have the full amount of money needed to pay for the property upfront, so they apply for a mortgage loan. 

Even when the prospective buyer is pre-approved for a mortgage, they still need to get their mortgage approved by underwriting and closing the loan. Typically, this process will take around 45 to 60 days. 

During this period, the bank reviews all the buyer’s credit, income, and proof of funds. Then, it validates this information to ensure the buyer can afford the monthly mortgage payments. The bank usually also requires an appraisal to confirm the home’s value. 

Depending on the loan, the buyer may also need a home inspection. That is often necessary for government-backed loans. 

Once these steps are accomplished, there’s a title search to verify that the property has no liens on it and is free to be sold. 

After all these conditions are met, the bank, lawyers, and everyone else involved can finally schedule a closing.

From start to finish, this is a long process and can end up being even longer if any issues crop up along the way. Banks are – understandably – very strict about their rules when giving someone a large loan, meaning all criteria need to be met before moving forward. 

With a cash offer, the buyer can skip most of these steps and all the red tape that goes with it, shortening the process significantly.  There’s no loan paperwork and no requirement for an appraisal. It’s just a matter of arranging for the title search and deed transfer. 

When you sell your home to a cash buyer, the entire process could be done and dusted in only a few weeks. The actual length of the transaction will depend on many factors, but overall, it is typically a much faster closing than a financed offer. 

There are several factors why a cash offer is better.

Reasons Why All-Cash Offers Are Better 

Time and convenience aren’t the only reasons all-cash offers are better when selling your home. Here are other attractive reasons for sellers to go with a cash buyer: 

Fewer Worries About Repairs

Sometimes, with a financed purchase, you will need to respond to the inspection by making renovations to make the house sellable. With a cash offer, you can sell the property as-is. That eliminates the need to invest in potentially expensive, time-consuming repairs. 

Fewer Contingencies

In a cash transaction, there may still be some contingencies and negotiations between you and the buyer. But, you won’t have to worry about some of the most common aspects of selling a house, like the inspection contingency or the financing contingency, where the buyer has to back out because they cannot get financing from the bank.  

Reduced Pressure

When you sell a home for cash, you’re pretty much guaranteed to be paid. You don’t have to deal with the pressure of the loan falling through. And because the process is quicker with fewer opportunities for deal failures, you won’t have to worry about having people come through your house for showings for weeks or months on end. Instead, you can focus on moving to your new home and getting a quick cash injection from a buyer.

Selling on Your Timeline 

As mentioned earlier, the main advantage of selling your house to a cash buyer is the speed of the transaction. That allows you to sell your home on your timeline without waiting for the paperwork or requirements of mortgage lenders. 

This speedy selling time can be beneficial in most situations, particularly for those wanting to sell quickly. After all, you’ll want to move on fast if you have another home in your sights or are recently divorced. 

Regardless of our reasons for wanting to sell, you’ll have much more control over the process when you choose a cash buyer. 

Achieving Your Target Price 

It is not always easy to achieve your target price when accepting a cash offer. That can be one of the downsides of a cash home purchase. Often, cash buyers make lower offers, thinking that the convenience and low risk involved will be enough to seal the deal. 

It’s important to do market research and determine what homes like yours are going for, so you can decide on a fair price that benefits your wallet. 

Many sellers anticipating cash offers may put their home up for sale at a higher asking price since they may get a cash offer lower than they’re asking for. 

It is up to you to decide what offer you’ll accept. You don’t have to agree to a lower offer in exchange for the convenience of cash. However, it’s wise to remember that cash offers can help you cut some expenses. 

If you’re unsure about this avenue, talk to professionals who know about the cash offer process.

Lower Fees and Costs

Both buyers and sellers will have to pay some fees in a housing transaction. In some instances, the fees can be negotiated, and the seller often agrees to pay certain costs to make the deal more attractive.

One of the things that makes an all-cash more appealing is that some fees aren’t applicable in a cash deal.

For example, an appraisal isn’t required with a cash sale. Also, you probably won’t have to worry about being asked to pay part of the buyer’s closing costs, as sometimes occurs when the buyer uses financing. 

If you choose to skip on using a real estate agent to sell your house, you’ll save on that fee as well. However, it’s often smart to foot the realtor fee for the buyer since it makes them more likely to make an offer. But you don’t have to do that in all situations. 

No Realtor Commission to be Paid 

Some sellers sell their houses for cash using the services of a realtor, but it is not required. Of course, selling a house without a realtor may seem daunting, especially if you’re selling a home for the first time.

Still, selling with a realtor isn’t your only option in the housing market. Using an alternative service like a company specializing in cash buys can streamline the process and save home sellers some headaches. 


Some professionals can help you sell your house faster and with less fuss than the traditional real estate route. 

If you’re looking to sell a house fast in NYC, there are cash home buyers in Queens and the surrounding area that could be interested in your home. 

For a trusted option, reach out to Leave the Key Homebuyers. We buy houses New York statewide from Queens to Brooklyn and can help take the guesswork and hassle out of the selling process.