Three Facts about Cash Offers that Will Help You with Your Homebuying Process

You’ve finally found your dream home on your real estate quest, but this excitement also comes with some new stress—what if the seller chooses another offer? You wouldn’t be the first to find yourself lying awake at night worrying. But, there’s a promising solution. Perhaps you’ve heard of a cash offer. It’s one of the best ways to present the most competitive offer, but it can also be an intimidating concept—you might ask yourself, how is it possible? Can I make a cash offer? Here to answer your questions is real estate expert Dylan Krebsbach, an agent for Flyhomes, who knows all about cash offers and how Flyhomes can help get you that dream home (and help you sleep at night in the meantime). Here are three of his cash offer essentials.

What is a Cash Offer?

First thing’s first. You don’t have to hand over a briefcase of cash when you make a “cash offer.” When you present an all-cash bid, all it means is that you are purchasing the home without a mortgage loan or any other financing. If it all sounds out of reach or too good to be true, worry not; there’s no catch. Flyhomes makes it simple and attainable. “Flyhomes will purchase the home using our cash, secure it for our buyer, and then our buyer will essentially buy it off from us from there,” says Krebsbach. This means that anyone can make a cash offer—you don’t have to have all the “cash.” “We’re not reinventing the wheel, we’re just making it a little bit smoother,” he says.

A cash offer is quickest for you and the seller

When first learning about the cash offer option, you might assume you’ll be dealing with an exorbitant cost. Krebsbach assures us that it’s the opposite. “With a cash offer, you don’t necessarily need to be the top offer to win,” he says. That’s because, as we learned, it’s a highly competitive offer for the seller because it’s simple and fast. Plus, get this: In 2020, 53.2% of winning Flyhomes deals did not offer the highest bid. Those bids averaged 2.35% lower than the highest competitor. In fact, over half of Flyhomes’ winning bids save an average of $18,000. And on top of that, Flyhomes rebates (where you get a percentage back on your purchase during close) will save you even more at the end of the day.

A cash offer will likely save you money

When first learning about the cash offer option, you might assume you’ll be dealing with an exorbitant cost. Krebsbach assures us that it’s the opposite. “With a cash offer, you don’t necessarily need to be the top offer to win,” he says. That’s because, as we learned, it’s a highly competitive offer for the seller because it’s simple and fast. Plus, get this: In 2020, 53.2% of winning Flyhomes deals did not offer the highest bid. Those bids averaged 2.35% lower than the highest competitor. In fact, over half of Flyhomes’ winning bids save an average of $18,000. And on top of that, Flyhomes rebates (where you get a percentage back on your purchase during close) will save you even more at the end of the day.

To learn more about the Flyhomes’ cash offer and speak with an agent, visit flyhomes.com.