What is a ‘Cash Offer’?

  • by Penn Henderson
  • 1
Big Island Real Estate - Cash Offer - Hawaii Homes for Sale

A cash offer is an all-cash bid, meaning a buyer wants to purchase the property without a mortgage loan or other financing. These offers are often more attractive to sellers, as they mean no buyer financing fall-through risk and, usually, a faster closing time.

Most financed transactions in Hawaii take a minimum of 30-days and often 45 to 60-days to close. In comparison, a cash transaction could potentially close within a couple of weeks, so long as escrow has time to prepare documents for proper recording of the deed.

For most buyers, all-cash offers are not a viable option. However, since cash offers will often times be for less than the seller’s asking price – there’s still a chance for a non-cash buyer to woo the seller with an attractive ‘financed offer’.  Purchase offers that include a pre-approval letter and proof of funds, combined with a well-written cover letter can carry a lot of weight with the seller.

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Contact Penn Henderson - Kona Realtor in Hawaii
MAHALO FOR DROPPING BY!
Big Island Real Estate - Kona, Hawaii

WOULD YOU LIKE ME TO HELP WITH YOUR SEARCH?

I excel at locating ideal Big Island properties specific to your needs and unique lifestyle.

100% Hustle.

No Gimmicks. No Hassles. No Fees.

Just a Few Questions (3-Minutes)