Why do home sellers prefer a “cash” buyer? Wouldn’t they get the same amount of $ as a check from the bank if the buyer has a home loan?

Question

Why do home sellers prefer a “cash” buyer? Wouldn’t they get the same amount of $ as a check from the bank if the buyer has a home loan?

In: Other

Answer 1

I got a cash buyer a couple years ago when I sold my house. There are a lot of what’s called “closing costs” associated with these deals. It’s a bunch of fees and stuff from the banks and whatnot. Traditionally the seller is expected to cover these. When the buyer can pay cash you don’t have to deal with those things. I made something like an extra $5,000 profit just from avoiding closing costs.