How to Become a Cash Buyer
webadmin • June 9, 2024
Navigating the Housing Market in Retirement: A Real-World Success Story
How to Become a CASH BUYER
In today’s fast-paced, low inventory real estate market, cash offers consistently stand out, offering a distinct advantage in negotiations. A prime example of this is a recent transaction where a home listed at $450,000 attracted multiple competing offers. The most compelling of these was a cash offer that closed at $467,000, which was $35,000 LESS than the highest offer with financing. This real-life scenario demonstrates the undeniable appeal and strategic power of cash in real estate dealings.
Why Cash Offers Win
1. Speed of Transaction: Cash buyers can move quickly, without the delays often associated with mortgage approvals.2. Reduced Complexity and Uncertainty: With no need for lender approval, cash offers reduce the risk of deals falling through, making them highly attractive to sellers.
3. Seller Preference for Certainty: The straightforward nature of cash transactions often makes them the preferred choice for sellers eager to close without complications.
Current Market Insights
Data from the real estate industry shows that cash offers are significantly more likely to succeed in a bidding war. Approximately one third of all home sales are sold to cash buyers.A Strategic Advantage for Homebuyers
If you want to accelerate your journey to purchase a home, a cash offer can give you the edge you need. Allowing you to bid a bit less than competing financed bids, the attractiveness of cash may tip the scales in your favor.Our Innovative Cash Purchase Program
We understand the challenges of today’s housing market and are committed to helping you navigate them. Our innovative cash purchase program turns you into a cash buyer, merging the benefits of straightforward cash transactions with the practicality of financing.This approach significantly increases the attractiveness of your offer, giving you a competitive edge. By removing hurdles like mortgage contingencies and lengthy closing processes, we not only simplify your buying experience but also speed up your path to homeownership.
Become a Cash Buyer TODAY
Ready to make your home buying process smoother and more competitive? Contact us today to learn how our cash purchase program can transform you into a cash buyer.
Here at Luminate Home Loans, we’re always looking for ways to offer more value to our clients and partners. That’s why we’re thrilled to announce that we’re now a wholly owned subsidiary of Luminate Bank®—and soon, we’ll officially transition under the Luminate Bank® name.
For years, homebuyers have been hoping for a return to the ultra-low mortgage rates seen during the pandemic. But as we move through 2025, it’s becoming increasingly clear that today’s rates—hovering between 6% and 8%—aren’t going anywhere.
Luminate Bank® Welcomes Josh Eifert as Chief Financial Officer, Honoring Legacy of Dave Turk [Minneapolis, Minn.] – [2/4/2025] – Luminate Bank® is proud to announce the appointment of Josh Eifert as its new Chief Financial Officer, succeeding Dave Turk, who has played a pivotal role in shaping the company's strong financial foundation. Josh brings a wealth of experience and strategic vision to Luminate Bank, with 26 years in the banking industry. Most recently, Josh served as CFO at Tradition Capital Bank in Edina, Minnesota, where he led the financial strategy during its remarkable growth from $300 million to more than $2.5 billion in total assets. Before his tenure as CFO, Josh contributed to Tradition Capital Bank in other key financial roles. He began his career with Norwest and Wells Fargo Banks, gaining extensive expertise in financial and operational capacities. Luminate Bank's leadership transition reflects the company's thoughtful succession planning, ensuring its financial strategies remain robust and forward focused. Under the leadership of Dave Turk, Luminate Bank has built an exceptional financial infrastructure, delivering consistent results and creating a foundation that positions the company for continued success. Luminate Bank's CEO, Marc Campbell, shared his confidence in the appointment: "Josh not only brings exceptional financial acumen and strategic insight to Luminate Bank, but he also embodies the principles that define our organization: integrity, innovation, and a steadfast commitment to excellence," Luminate Bank's CEO, Marc Campbell, shared with confidence. "His leadership will ensure our financial strategies succeed and inspire confidence across all who depend on us." "I am honored to join Luminate Bank at such an exciting time. The company's remarkable history of financial excellence and its forward-thinking approach align perfectly with my values and vision," stated Josh Eifert. "I look forward to collaborating with the talented leadership team to build on this strong foundation and drive continued success for our customers, employees, and stakeholders." Josh graduated from the University of Minnesota with a degree in finance and completed the Graduate School of Banking at Colorado. CEO Marc Campbell expressed gratitude for retiring CFO Dave Turk's contributions, saying, "Dave has been instrumental in positioning Luminate as a financial leader. His dedication, insight, and stewardship will always be a part of our company's legacy." Josh Eifert will officially assume his role on February 18, 2025. About Luminate Bank® At Luminate Bank, We Open Doors—empowering individuals and families to achieve their financial dreams through personalized service and innovative digital solutions. As a nationwide bank headquartered in Minneapolis, Minnesota, we are committed to helping our clients meet their financial goals with a blend of modern technology, traditional values, and the trusted guidance of experienced professionals. Known for our exceptional commitment to customers, we take pride in delivering a seamless, supportive experience for every step of the journey. Our dedicated mortgage division has branches and a team of loan originators across the US, making expert home financing solutions accessible to communities nationwide. Luminate Bank is committed to safeguarding your money and accounts with FDIC insurance coverage up to applicable limits. Learn more about how we can open doors for you at www.luminate.bank , follow us on Instagram, LinkedIn, and Facebook, or call (952) 939-7200. For media inquiries, please contact: Debbie Schwake, CMO debbie.schwake@luminate.bank
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