There are advantages to the seller when the buyer pays cash. First, there is no financing contingency in the sales contract, so the contract cannot be voided by a low appraisal or an increase in interest rates. About 5 years ago, former neighbors of mine signed contracts on three different houses and all of them were cancelled because the bank appraisals were too low. Another advantage to cash is that the closing can be scheduled within two weeks or so after the sales contract is signed.
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