How to Make a Cash Offer with a Mortgage in Denver

Did you know all-cash offers in real estate accounted for 36% of home sales in 2020? You might be thinking: How do so many homebuyers have enough cash laying around to buy an entire house in an expensive city like Denver? Or, how will I ever compete against all those institutional investors scooping up all the available houses on the market?

There's good news. There's a way for you to buy a house with cash, even if you don't have the full amount of cash ready and waiting in your checking account.

The secret lies in partnering with Accept.inc. We’re here to level the playing field for everyday buyers like you, by making it possible to buy a house with cash but pay for it over time with a mortgage.

If paying for a house with cash, while also being able to pay it back with a mortgage, sounds complicated or risky, we're here to assure you it's not.

The process for becoming a cash buyer is straightforward -- we promise.

Step 1. Get Cash Approved™

It begins with you completing our Cash Approval™ form letting us know you're interested in buying a house with cash in Denver.

We'll work with you to start your loan application and discuss your loan options with you. Then we begin the full underwriting process. This is entirely different from other lenders' so-called "preapproval", which just kicks the actual underwriting process down the road for you to deal with later.

The Accept.inc Cash Offer approval may take slightly longer than a traditional lender’s 30-minute pre-qualification, but once you are Cash Approved, you can immediately go out and compete with other cash offers!

What this step entails

• You complete our online Cash Approval application.

• You learn about the loan options and our competitive rates.

• We guide you in gathering the necessary documents for our underwriting process -- the same documents you'd need for traditional underwriting.

• What takes traditional mortgage lenders an average of 58 days to process, can be performed in as little as 72 hours with Accept.inc.

• During this step, we work with you to determine the earnest money and down payment amount you will use in your cash offer.

Step 2. Find the home you want to buy

Next, you and your real estate agent will begin the fun part of buying your dream house in Denver or the surrounding areas -- looking at houses you want to buy! Your agent can guide you through all the tough decisions about what's on your must-have and nice-to-have lists, whether it's neighborhoods, features, or total house budget.

You are not restricted in which real estate agent you work with or which properties you can look at.

Hit the open houses with the confidence that your Accept.inc Cash Offer lets you negotiate and craft a bid as compelling as any other cash offer.

When you find the house you want, your agent will send the property details to Accept.inc to conduct a value check process. We do the value check at this stage, so you can skip the appraisal contingency in your offer. Another benefit to a cash offer!

What this step entails

• You and your agent find the home you want to purchase

• Your agent works with Accept.inc to get approval on the offer amount

• We work together to determine the earnest money deposit and down payment amounts

• Your all-cash offer is submitted to the seller with Accept.inc's proof of funds.

Don't forget: because you're making a cash offer, there's no financing contingency either! Your underwriting was already completed during Step 1.

Step 3. Win the home

An all-cash offer can improve your chances of making the winning offer by 4X. Once a seller approves your bid, we will work with you and your agent to finalize the purchase.

What this step entails

• Once a seller accepts your all-cash offer, the house is purchased using Accept.inc’s cash. This allows us to reserve the home for you until your mortgage is ready to close.

• From here, you can schedule an inspection on the home. The seller’s contract with Accept.inc is contingent on your satisfaction with the inspection report. As with a regular real estate transaction, you and your agent have complete control over negotiations during the inspection period.

• We will only purchase the home if you’re satisfied with its condition or you’ve negotiated with the seller and reached a resolution.

• After Accept.inc purchases the home, it will be sold back to you with a mortgage for the exact same purchase price without any hidden fees or markups.

Step 4. Close and take possession

As soon as the mortgage is ready to close, you take title and move into the home! Once your real estate agent hands over the keys, it’s time to celebrate!

Ready to make a cash offer? Take the first step.

It's a myth that the only people having success in the Denver real estate market in the past year were either on the selling side of the transaction, a deep-pocketed investor getting creative with financing options that a normal person doesn't have access to, or someone who happened to have a lot of cash sitting around from their own recent home sale.

You, too, can make your next home offer an all-cash offer … and pay it back like a traditional home loan. All the advantages of paying with cash, without needing all that cash on hand!

To recap, here is how to make an all-cash offer with a mortgage:

1. Start the Accept.inc Cash Approval process

2. Find the home you want to buy

3. Make your Accept.inc-backed cash offer

4. Accept.inc buys the home on your behalf with cash and then sells it back to you at no additional cost

5. Close and move in!

Ready to get started and become Colorado's latest proud homeowner? Get Cash Approved today.