Mike’s Real Estate Show

I think it all depends on what you are buying and where and who is presenting the offer. When you have a cash buyer you eliminate all sorts of testy situations one biggie being the appraisal. And in his market that is a real BIGGIE for the vast majority of properties on the market. That being said I’d STILL get an appraisal as you want to make sure what your offering isn’t over the market but a great Realtor should be able to supply with the same data of an appraiser. No law says you have to make the deal “contingent” ON an appraisal. You can back out of the deal during your due diligence phase.
  Some areas which are still in big demand with scarce inventory might be “cash” resistant to a price decrease. Well qualified buyers with big fico scores and 30% down would have no problem with the loan except if the price can’t be justified. Your Realtor will make the difference in pointing out to the Sellers the advantages of you and all that CASH!!! This could still get you a discount but more importantly make your offer more attractive over all the others!! A big negotiating point!
  Now if you are “bottom” fishing I think a cash deal could get you some major discounting. Sellers with big equity in an area of rising foreclosures could benefit tremendously from cash, quick close deal! Your REALTOR needs to be a strong negotiator here and INSIST on presenting the offer to the Sellers. This could be an issue with certain agents but you may wish to insert a clause in the contract stating, “Selling agent to present all offers to Sellers in person with Listing Agent present”. This will really tick off some of my more controlling brethren! So many Realtor/Licensees have known only, “fax it to me and I’ll present it for you.”  At all costs avoid this strategy as it is the worst strategy to allow.
  I always give the “selling”  Realtor/Licensee the ability to present their offers but had very few take me up on my offer. These Realtor/Licensees don’t have the strong skill set your cash deal demands and NEEDs!