Whats the play when paying cash during a bidding war
I'm looking to purchase an investment property cash. At the price point it's sure to be bid up. How would you play this. Bid low, right at ask price, or a little higher. I'm a newbie, trying to figure out does offering hard cash give you any/more negotiating leverage over conventional loan offers?
Most Popular Reply
You bid at whatever price makes sense for your investment strategy, no more. Cash does give you a stronger offer than someone who is financing, some sellers understand that value, some do not. I do enjoy when a seller takes an offer conditional on financing and then I pick that property up 60 days later for less when it falls through escrow.
-Christopher