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typical discount for cash purchase on $1+ million homes?
user
i don't have a solid data-backed answer, but this is too lengthy for a comment. i've read that on average, about 1-2% is what you can get as a cash discount on a home purchase, all else being equal, but no hard data to back that.  in certain situations it makes sense for a cash discount to be much greater than that, for instance, if the seller is in a hurry to close and your cash offer has no inspection clause. similarly, if a house has been re-listed after a sale fell through you might get a greater cash-discount, or if an owner just over-values the advantages of a cash-offer. anecdotally, i had a neighbor take a cash offer 5% below asking and they had multiple offers at asking, they took the cash offer so they could close faster (15 days). also, i've lost out to a cash offer, also at 5% below asking, and they also had a short-closing period and no-inspection, my offer was over asking on that one, so total cash discount > 5%. there can be more volatility in the luxury home market, but i wouldn't guess that changes the cash vs financed evaluation much.  would love to see if anyone finds a good source, but even if they do, an average is only so helpful.
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