These are financial institutions scooping up investment properties to rent out or foreigners, most likely Canadian. International buyers account for about 6 of home sales, but more than half pay cash, in part because they cant get mortgages. Still other all-cash buyers are people who have accumulated equity or savings.
The proceeds from a home sale combined with savings can be enough to pay cash for that next property. If youre relying on a mortgage axis bank personal loan repayment buy a home, try these smart moves to get your purchase offer accepted over an all-cash buyers offer.
Make your best offer up front. Many all-cash buyers are bargain hunters, whether because theyre investors or because they know being a cash buyer puts them in a strong position.
Beat them out by making your final offer up front.
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