 TITLE: How to Win a Bidding War on a House CONTENT: Make an All-Cash Offer\n----------------------\nIf you're financially able, an all-cash offer can give you a serious leg up in a bidding war. Unlike buyers who need to finance the transaction, cash buyers are able to close the deal without needing final approval from a mortgage lender. This can accelerate the process and set the stage for a much quicker sale—which can be very attractive to sellers as mortgage applications can take up to 60 days to process.\nCash offers are often prioritized even if they aren't as high as other non-cash offers. Before draining your accounts to pay for a home in cash, however, consider your financial big picture. Will making a cash offer deplete your emergency fund or drive you into credit card debt? If you're withdrawing from a tax-advantaged retirement account like a 401(k) and you're under 59½, you'll also have to pay taxes on that money plus a 10% penalty. These are important details to consider before making an all-cash offer. END