What Is an All-Cash Offer?

A cash offer is when a buyer offers to pay for a property with an all cash-bid. In this market, sellers generally accept all cash offers because they close faster and there are less contingencies than dealing with a loan.  Meaning, you’re more likely to get the home of your dreams, and quickly. 

An all-cash offer program through Griffin Funding is similar but means that the borrower has acquired a type of loan that allows them to make an all-cash offer. You’ll purchase the home using financing provided by Griffin Funding and if for any reason the loan is delayed or you need to close quicker then you can use the Power Buyer’s cash in order to close until your mortgage loan is in place.  

Why Is an All-Cash Offer Better?

An all-cash offer is a more attractive bid for the seller, and because of that, it can lead to benefits for the buyer as well. An all-cash offer means a faster close, less paperwork, and less risk for a seller because they get their cash up-front. Due to these factors, all-cash offers are four times more likely to be accepted by sellers than a traditional offer.

Because a seller finds an all-cash offer more attractive, the buyer benefits as well. They are more likely to stand out in a pile of offers. In fact, cash offers are so much more attractive than financed ones, that 70% of sellers would accept a cash offer that is lower than a financed one. Not only will you save time with an all-cash offer—being able to have your offer approved and close sooner means you won’t have to worry about missing out on the home of your dreams—but you can also actually save money as well. We’ll go into more detail on that below.

How Does an All-Cash Offer Program Work?

If an all-cash offer sounds like something you’d be interested in, but you don’t have the personal funds for, don’t worry. Griffin Funding and our Power Buyer all cash offer partners have you covered. There is a 3-step process for how our all-cash offer program works:

  • 1.   The Application process:

Apply for a loan based on your income, assets, and purchasing power. Having this done before you place a bid is key so that you can determine how large your mortgage is, and how expensive of a residence you can afford. Even though the seller is receiving an all-cash offer, you are still using a mortgage to finance your home.

  • 2.   Bid:

Once your mortgage has been pre-approved, determine the bidding amount and submit the all-cash offer to the property you’d like to buy. This is where you can take advantage of all the aforementioned benefits of being an all-cash buyer including quicker closing times and lower bids. Cash offers also allow you to waive financing and appraisal contingencies, making your bid even more competitive and attractive to sellers. If you are buying while also trying to sell your home, you won’t be stuck paying two mortgages with the “Buy before you sell” programs available to you.

  • 3.   Move In:

Once your offer is accepted, one of Griffin Funding’s Power Buyer partners will pay cash for the property, and you can move in as soon as the sale is closed. Once the mortgage is finalized, you can “buy back” the home from the Power Buyer. Then you make payments on your mortgage as you would normally.


Our All-Cash Offer Program

One of our Power Buying all cash offer partners will work with you if you happen to be listing your own home or trying to move. Instead of worrying about selling your own home, you can buy your new home and sell later, allowing you to avoid showings and double moves, while using the value of your old home to finance the all-cash offer of your new one. Orchard or one of our Power Buyer partners will sell your old house for you, for a price that you agree on. This also removes the contingencies of having to sell your old home before purchasing a new one. 

Plus, when you use Orchard in partnership with Griffin Funding, you can receive a rebate of up to $8000 towards your purchase.

About Orchard

Orchard is dedicated to transforming the real estate market, making it simpler to buy and sell homes, making it fair and true to market. Orchard believes in helping people find their dream homes, sell their current homes on schedule, and at a fair value. They’ve been featured in Forbes, The Wall Street Journal, and Fortune magazine for their innovative approach. Orchard serves the following areas: 

  • Atlanta, GA
  • Austin, TX
  • Dallas-Fort Worth, TX
  • Denver, CO
  • Houston, TX
  • Montgomery County, MD
  • Northern Virginia
  • San Antonio, TX

Get Started with a Free Home Valuation

There’s no better time to take advantage of our partnership with Orchard. The market isn’t slowing down any time soon, which is why using an all-cash offer to buy your dream home is a necessity. 

We’re excited to partner with Orchard to provide borrowers with a unique opportunity to secure a home quickly while saving money— without the added stress of competitive bidding.

Still hesitant? Read our customer reviews and learn more about us before getting started. We’re proud to offer our borrowers lending options that make home-buying accessible and as easy as possible. Making all-cash offers on homes possible for more borrowers is especially valuable in this highly competitive market and is an exciting new venture we’re excited to add to our diverse mortgage program offerings.

Contact us today to learn more about the all-cash offer program and how it can help you purchase a home for less.