Attracting Cash Strapped Buyers

Buying a home drains cash from your bank account like nothing else on earth. First time buyers are always strapped for cash. For most of us, it's a struggle just to save for the down payment and moving expenses. Play this common scenario to your advantage. Sell your house quicker and for more money by reducing the amount of upfront cash a buyer will need to purchase your home.

The easiest way to make your house less cash hungry is to address all repair items before the buyer does an inspection. A short repair list means you take care of business and the buyer see's that they don't have to spend the precious, little cash they have fixing problems with the house.

Price your home a bit higher and offer to pay all closing costs.
You net the same amount of cash. The strapped buyer gives you a "thumbs up" and moves your home to the top of their list.


Shop for low or no down payment financing options for your home. Ask the lender to print out a lending sheet showing the small down payment required to purchase and the monthly payments on the loan. If the buyer see's that they can buy your house with less cash out of their pocket, you' re ahead of the competition and best of all, it costs you nothing.

If you have a big ticket item that needs replacing, price it into the deal. Complete the replacement after closing, but before their move in date. This works great for things like old carpeting. Give the buyer an allowance per foot and let them select their new carpeting. They get the carpet without having to write a big check, after they move. You net the same amount of cash, without having to move your furniture twice. Note: If the condition of your carpet is so bad it turns buyers off, replace it before you put the home on the market. Most buyers are not good at visualizing what something "could" look like.

Purchasing and moving into a new home is real cash burner. Do what you can to make your home the least expensive house to move into, then watch it sell.