An “all-cash offer” is an offer to purchase a home where the buyer does not need a mortgage to buy the home. Sellers usually prefer this because mortgages can take months to close and can fall apart due to a variety of reasons, including a buyer’s inability to sell their current home, their credit score going down, the house not appraising at the right value. 

“All-cash offers” can close quickly and are less likely to fall through. Because of this, sellers typically prefer “all-cash offers” and often give the all-cash offers a discount.

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