How HomeLight Cash Offer Helped a Dallas Couple Buy for $15K Under Asking and Close in 10 Days
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Matt McGee Editor, Agent Resource CenterClose
Matt McGee Editor, Agent Resource CenterMatt McGee is HomeLight's Agent Resource Center managing editor. He hosts HomeLight's weekly podcast, The Walkthrough, which delivers actionable, no-hype advice from the best real estate agents and top industry experts in the country. He previously served as Editor-In-Chief for three Third Door Media digital publications: Search Engine Land, Marketing Land, and MarTech Today. Matt's a Pepperdine University grad who's been surrounded by real estate his entire life: his wife and sister are active agents, as was his dad for almost 50 years.
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Having shared six years in their cozy-but-cramped starter home, Logan and Ashleigh Caraway knew it was time to size up — especially once they started talking about growing their family.
The Caraways reached out to their friend and Dallas-Fort Worth real estate agent, Adie Dugan. And at first, things looked promising for a swift transition.
“It was a very ideal time to move — the market was on fire,” says Ashleigh.
Heavy competition for buyers, including cash investors
But the Caraways quickly learned that a hot market for sellers means that it’s tough out there for buyers.
“Every home we wanted to put an offer in on had multiple offers, and often we could not compete with what was on the table,” says Logan. “We would submit strong offers, but they kept getting rejected. It was really tough to be competitive in this market,” Ashleigh adds.
Fortunately, Dugan had another idea in mind.
She noticed that her clients weren’t just competing against other single-family homebuyers — they were competing against investors with deep pockets.
“There were so many cash investors really flooding Dallas-Fort Worth,” says Dugan. “So I brought HomeLight Cash Offer to Logan and Ashleigh’s attention.”
HomeLight Cash Offer gets buyers noticed
When homes are receiving dozens of offers, buyer’s agents need a way to make their client’s offer stand out from the competition and get the attention of a busy listing agent.
HomeLight Cash Offer simplifies the purchase process for qualified buyers (and their preferred agent!) by removing the financing contingency. Buyers then have the power to make an ultra-competitive cash offer with the ability to close in as few as eight days — all with no hidden fees.
“HomeLight Cash Offer was really the right solution for Logan and Ashleigh,” says Dugan. “It gave them the competitive edge of a cash offer and we could get the listing agents to talk to us — versus when an agent is flooded with 30 other offers that all look very similar.”
With their financing contingency eliminated, the Caraways were not only able to start a conversation about the home they envisioned for their family, but they were also able to close on it in just 10 days.
“We were the only cash offer. It was pretty quick for us,” says Dugan. “We could have gone the traditional financing route for this home, but I don’t think we would’ve been able to negotiate as well with the seller.”
Flexible support for a stress-free purchase
Aside from their boosted buying power, one aspect that Dugan and the Caraways each appreciated was HomeLight’s comprehensive support throughout the purchase process.
“Everyone was very professional, very friendly, very responsive,” says Logan. “If we had a question, we had an answer almost immediately.”
As a busy agent, Dugan especially valued HomeLight’s responsiveness and proactive approach to doing business.
“Maggie, our HomeLight Cash Offer Strategic Relationships Manager, was there for me every single step of the way. Every time I had a question, she had an answer ready,” explains Dugan. “Agents who are running around with a bunch of different clients and juggling all these balls really need to be able to rely on their support team.
“I felt like I could rely on HomeLight.”
Welcome home with HomeLight
Thanks to HomeLight Cash Offer, the Caraways were able to buy their new home and they’ve been enjoying the extra space and great location ever since. They say that HomeLight gave them the tools they needed to be competitive once they found their ideal home.
“I think the seller had an easier decision to make because of the cash offer,” says Logan. “That sped up the process tremendously.”
Not only were they able to make an enticing, quick-close offer, the Caraways even found themselves in the driver’s seat when it came to negotiations. This was an unexpected turn of events in the rapid-fire Dallas market — but one with a rather advantageous outcome for Logan and Ashleigh.
“We got this house for $15,000 under asking,” says Ashleigh. “We really do recommend HomeLight for anyone trying to stay competitive.
“That’s the power of the cash offer.”
Header Image Source: (Erin Hervey / Unsplash)