Decades ago, home owners celebrated owning a home outright with a mortgage-burning party. Few home owners want to go from owning a home outright to taking on a new mortgage. With greater equity in homes, it’s possible for some fortunate home buyers to make cash transactions. Investors who flip homes for a profit in Pinellas County often have cash put aside for buying a new investment property. Buying a home with cash often comes with certain advantages, especially in the hot Pinellas County real estate market. When it comes to buyer, seller and investor tips, cash deals talk the loudest. According to an article by tbo.com, cash sales are not as common as they were during the housing decline. At the same time, cash helps in the current tight market. Experts point out cash gives a greater advantage to people buying in the $300,000 and lower range.

Creating a sense of urgency

Buyers who have cash offers on the table create a sense of urgency. Buyers do not typically have time to waste thinking about whether or not to buy a home when other bidders offer cash. Pinellas and Hillsborough counties ranked fifth in cash sales among major real estate markets, according to ATTOM Data Solutions. Cash sales are up for the first time since 2013.

Giving investors an edge

A lot of investors in Pinellas County want to buy starter homes to turn into rental properties as well as flip the homes for profit. Cash helps investors compete with the many first-time buyers. In fact, 24 percent of single-family home sales in the area were cash deals. Cash means less stress. Oftentimes buyers or investors don’t demand an appraisal, but experts point out an inspection is still critical.

When competing with cash buyers, consider offering a higher amount on a home sale. Most sellers will wait for financing to go through in order to make extra money. It often depends on how motivated the seller is to make a quick exchange. Cash made up 28 percent of the single family home sales in Pinellas compared to about 25 percent in Pasco and 19 percent in Hillsborough County. Investors and ordinary home buyers recognize extreme value in Pinellas County real estate. At International Title Partners, we help with a speedy closing process. Talk to us about closing at your home or office in Pinellas County. For more buyer, seller and investor tips on cash home sales and ideas for investing, contact us.