There are many benefits to paying cash for a Wellington FL home, primarily you will not have a mortgage contingency when writing an offer, but will removing this contingency gives you leverage when negotiating the purchase price on a Wellington home?
The amount of money a cash buyer will be able to negotiate off the list price of a Wellington home will vary. Some cash buyers will pay more than list price, some will pay list price and others will pay below list price.
I know a lot of cash buyers are under the impression they will be able to negotiate 10%, 20% or more off a Wellington home because they are paying cash, but unfortunately, that is not the case.
Last month, January 2012, 56% of Wellington homebuyers paid cash for their new home and the median list to sales price ratio for these buyers was 96.7%, meaning on a $500,000 home cash buyers paid $483,500.
So if you are a cash buyer looking to purchase a home in Wellington Florida you may be able to negotiate off the list price, but based on statistics it is unlikely you will be able to negotiate 10% or more off the list price of the home because you are paying cash.
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