Property Owner wants ALL CASH OFFER. Why?

[David Maurer]

I see that some properties in my area (Bronx, NY) are listed as ALL CASH OFFERS ONLY!  Why would the owner care where the funds come from?

[Ceasar Rosas]

Hi David,

There can be plenty of reasons an owner requests all cash offers. The most common reasons that I've encountered are:

1. Banks will not finance the property. Sometimes there is extensive work that needs to be done. They may not want to deal or are unaware of renovation loans. Sometimes it can be to much work for most banks to finance. 

2. They have difficult tenants. If tenants don't open doors, most banks can't appraise and therefore can't do the loan. 

3. CO or violation issues. 

Etc.....

I've seen other instances as well, but those are the most common that I have run into.