Contrary to popular perception, cash deals are not without theirĀ perils for Sellers.

Issue #1? (and #2 and #3):

Where is the Buyer’s cash parked — and will it still be there at closing?

However, assuming that the Buyer’s proof of funds is from a reputable bank or broker, and the Buyer doesn’t suffer any sudden financial reversals, the other aspects of a cash deal are much more streamlined.

Like closing.

Instead of the usual hour (or more), closing a cash deal can takeĀ  . . . ten minutes.

That’s because the lion’s share of the required signatures in a typical (non-cash) closing pertain to the mortgage and accompanying promissory note.

About the author

Ross Kaplan has 19+ years experience selling real estate all over the Twin Cities. He is also a 12-time consecutive "Super Real Estate Agent," as determined by Mpls. - St. Paul Magazine and Twin Cities Business Magazine. Prior to becoming a Realtor, Ross was an attorney (corporate law), CPA, and entrepreneur. He holds an economics degree from Stanford.

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