All-cash offers are king in this hysterical real estate market. Here's what you need to know
CNN
The real estate stories are swirling about homes that sold in record time, with multiple bids -- and "all-cash offers."
In this wild housing market, with 21% fewer homes on the market than last year and demand pushing prices to record highs, the competition for a home is fierce. One thing that can put a potential buyer on the top of the heap is an all-cash offer. An all-cash offer doesn't mean showing up with a suitcase full of cash. But it does mean a buyer has the means to purchase the home without taking out a mortgage.
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