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 always felt like it’s this:

Sellers: House is going for 400k, we have offers on the table.

Buyer: will give you 350k in this suitcase.

Sellers: We’ll take it, but the paperwork will list house as 200k (you know for taxes also assuming sellers purchased for less than 200k).

Buyer: ok, you have a deal.