Can You Compete With a Cash Offer?
For the past several years, many homebuyers have heard the same discouraging words: “There are cash offers on the table.” And if you needed a mortgage, it was easy to assume you didn’t stand a chance.
But something interesting is happening in the housing market. According to new data reported by CNBC, cash purchases are declining faster than home sales overall.
During the first four months of 2026, total home sales declined 8.5% from a year earlier—but cash purchases fell 11.2%. And among existing homes, cash represented 26% of July sales, down from 31% a year ago.
In other words, financed buyers may have more room to compete than they realize.
What Sellers Really Want
Cash has obvious advantages. There’s no financing contingency, no lender involved, and generally less uncertainty about whether the transaction will close.
But here’s the important part: A seller doesn’t necessarily dislike financing. They dislike uncertainty.
The CNBC article shared two pretty remarkable examples. One financed buyer won against approximately 15 competing offers, while another beat 27 offers.
Both had been pre-underwritten, rather than simply preapproved. That distinction matters.
A traditional preapproval gives you an initial indication that you qualify. But when more of the underwriting work is completed before you find the home, there are fewer financing questions left unanswered when you make the offer.
That’s exactly the idea behind ReadyApprove™ at BankSouth Mortgage.
Instead of waiting until you’re under contract for an underwriter to review your income, assets, credit and other qualifying documentation, we can complete much of that work upfront.
It doesn’t turn your mortgage into a cash offer.
But it can give a seller greater confidence that your financing is solid and you’re ready to close.
And in a competitive situation, that can help your agent present a stronger offer.
Don’t Count Yourself Out
More inventory, moderating prices and less competition are giving financed buyers more opportunities to compete.
So if you find the right house and hear there may be a cash buyer involved, don’t automatically assume you can’t compete.
Talk with your real estate agent and lender before deciding how to structure your offer. Sometimes, strengthening the financing behind the offer can be just as important as changing the offer itself.
Bottom Line
Cash still has advantages. But needing a mortgage doesn’t automatically make you the weaker buyer.
The better prepared you are before you find the home, the more confidence you may be able to give the seller when it’s time to make an offer.
If you’re thinking about buying, we can work on the financing before you find the house—so when the right one comes along, you’re ready.
Even if it’s just a quick question. No pressure. Just clarity.
The BankSouth Mortgage Advantage
Experience the speed of ReadyApprove from BankSouth Mortgage, where you can secure conditional approval for conforming loan limits within hours.
With ReadyLoan®, you can make this process even easier. Our digital platform lets you apply, track your loan progress, and submit documents securely—all from your computer or mobile device. You’ll be armed with the confidence to quickly submit an offer, and the seller will see you as a serious, prepared buyer.
Have peace of mind with our FREE one-time rate float-down* and no lender fee refinance** options!
When you purchase your home with me at BankSouth Mortgage, you may be able to refinance later with no lender fees. This program offers flexibility as life changes, with the potential for savings when it matters most.
*One-time float down available on 45-120 day rate locks. Float down must be executed at least 15 days prior to closing and must be at least .125 improvement. **This offer may change or end at any time without notice. “No Lender Fees” refers to waived origination charges. Eligibility conditions apply. Subject to credit and property approval.
Blog post date: Thursday, August 27, 2026
