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Found out most cash buyers want 30% below market value, not 10%
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patp791mo agoMost Upvoted
I mean, I gotta disagree a little based on what I've seen. Most of the cash buyers I've dealt with are somewhere in the 15-20% below market range, not 30%. 30% feels more like a lowball from someone who's just testing you or a wholesaler trying to flip it to another investor. I had a guy offer 28% under on a fixer-upper in a decent neighborhood, and I passed, then two weeks later a different cash buyer came in at 18% off and we closed in 10 days. Maybe it's just the market I'm in, but people who actually have the money ready and want a clean deal usually aren't that greedy.
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black.mark1mo ago
@patp79 I gotta say your experience sounds way different from mine lol. Around here the cash buyers are almost all offering 25-30% under, especially if the house needs any work at all. I had three cash offers on a place last month and every single one was in the 28-32% below range. Sure some of those are wholesalers or flippers trying to get a steal, but a couple were legit working guys with hard money backing. Its not just lowball testing either, they hold firm and walk if you say no. Maybe your market has more competition driving prices up, but out here 30% under is the new normal for cash deals.
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