[stephenNUTS]

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the seller gets all cash either way so your only leverage is that you can close sooner and you can leave out the contingincy of having the mortgage approved for you and the apprasial meet the total price. so a cash offer is better sounding but doesnt have alot to offer. it works well when you are having competition from other buyers and your offer is more attractive. but getting more off the price isnt going to happen to a large extent.

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Nice points Ray,

IMO the only time an ALL-CASH offer gives you THAT much bargaining power,is when the seller is forced or anxious to sell/close ASAP for personal reasons,avoiding foreclosure,divorce,etc

With all the paper work,recording doc's,IRS forms,title/deed paperwork,etc at closing.....EVERTHING is documented and leaves a substantial paper trail....... so even someone "tempted" to offer some cash under the table is taking a risk that can come back to haunt them some day.
Real Estate closings/sales...are not the Wild West,or Bugsy Seigal showing up at a home.....and saying "here..take this suitcase"...I WANT your home...lol

They really shouldnt even take a chance...as the $500k you pay is going to be a cut check anyway I assuming

It really just boils down to how quickly/desparately the seller wants to close.Another thing which is important since the credit-mortgage crash... ALOT of deals have fallen through due to the buyere being UNABLE to secure a mortage now

That should give you abit of wiggle room as well

Other things include the location,home sale inventory in that area,etc

I would DEF would take a shot though,coming in lower and work from there....it CANT hurt?


Stephen [img]/images/graemlins/cool.gif[/img]