cash is definatley king. We are seeing a lot of cash buyers in our area (Ft Myers) So if you are in a multiple offer situation, you may be competing against other cash buyers, so if you really like the house, don't lowball.

Hello Sean,
Cash buyers are the boss when it comes to multiple offers unless you have a pre-qualified mortgage letter and are willing to offer 15%+ over the asking price from the first offer and are able to give great concessions such as offering to pay the sellers document stamps (tax) on the sale or willing to pay the title insurance or willing to close very quickly. With that being the case someone financing could become boss in many cases. If this is something that you are interested in then I would suggest a few other details that help you to come out on top of any transaction you decide to do when you have a chance to contact me. Happy to help you find your piece of paradise in SW Florida.
By the way, you can find up to date active properties on the Florida Gulfcoast MLS by going to http://www.swfloridahomebuyer.listingbook.com

Sarah Garrett, Realtor
ALLIANCE REALTY GROUP
"Chosen Best in Client Satisfaction 2006-2009"
By Gulfshore Life Magazine
239-464-8620
sarahgarrett@argfl.com

Cash talks in any sale. I just bought a foreclosure and I did come in less than the other offers which required mortgage approvals. Cash sales are fast, no bankers on the buyers side to deal with, and that means a lot to a seller no matter it be a bank or an individual.

However, you can't be a very low offer. If you are not into research, best to work with an agent (you don't pay us, remember, the seller does) who will determine what is happening in the neighborhood, prior sales, what is owed, and will be able to get the job handled for you in terms of inspections especially with you being out of the country.

Most of my buyers are long distance people (Norway, England, and all the cold places in the USA) and I can give you a long list of references to check out if you would like to work with me. Or you can certainly contact me and I can give you examples of how my investments have panned out.

Good Morning Sean - I agree with Mark Washburn. Most foreclosures are looking for highest and best offer, so if you lowball with a cash offer, they are likely to go with the one with a financing contingency at a higher offer. Most offers to banks require a pre-approval from the buyers bank along with proof of funds for the down payment as they don't want to waste their time with someone who has not been pre-qualified. However, an equal offer with no contingencies is more likely to be accepted. The problem with that is you don't always know what the other offers are! I have had cash offers above the asking price in on foreclosures with multiple offers and lost to bid to someone who bid just above my buyer and then I've had cash offers just below the asking price and won the bid. It really depends on the demand of the property and how many offer are made. Short sales are much trickier than foreclosures, as the bank may not even accept any offer around the asking price. Sometimes the asking price on short sales is a starting point. Hope this helps to answer your question. If I can be of any more help, contact me!
Sincerely,
Jeanine Standing Bear
Sandals Realty of Fort Myers, Inc.
#239-340-5600
email: jstandingbear@yahoo.com

Sean,

Cash is key in many deals here right now in our market as you can see from the responses that you have gotten from the Trulia experts. If you are looking for a great investmet . check this one out. through our link. http://www.riversiderealtyflorida.com/mls/200929748/?keyword…

Right now lower-end distressed properties are selling at prices within a few percentage points of asking. A cash offer puts you in front of all the other buyers that have financing contingencies. Unless it is a higher-end property, the likelihood of success with a low-ball cash offer are not great.

Good luck with your search!

In our market, Ft myers, Lehigh, Cape Coral, cash is king. Doesn't necessarily mean you can buy for a lot less, but most sellers, banks and regular sellers, seem to prefer dealing with cash buyers because there are not mortgage contingencies and they can close quicker.

I think cash will be to your advantage but I'm not certain if it will matter as far as selling price. The lenders will accept whatever they accept.

Good morning Sean, in this current market a cash buyer can have a considerable advantage. However, the advantage lies in identifying the right property early in the process. Currently we are seeing multiple offers on almost everything. Properties in Cape Coral and Lehigh Acres priced under 100k have numerous offers placed very quickly after hitting the market. Price, proof of funds, ability and willingness to close in a timely manner are all strong motivating to sellers.

To identify some of the properties available, log on to http://www.Hope4HomeBuyers.Listingbook.com and view all homes for sale in our area. If we can be of service, our contact information is found below.

Neil G. Blair-Bennett
Broker-Associate

Alliance Realty Group
14090 Metropolis Ave Suite 206
Fort Myers, Florida 33912
Direct Line: (239) 645-3798 http://www.Hope4HomeBuyers.org
Neil@Hope4HomeBuyers.org