By Ryan Elliott | Real Estate Agent Serving St. John’s, Mount Pearl, Paradise & Conception Bay South
Selling your home for cash has become a big buzzword in Newfoundland’s real estate market. You’ve probably seen the ads: “We buy houses fast!”, “No conditions!”, “Close in days!”
It sounds easy — almost too easy. But what actually happens when you accept a cash offer on your home? And more importantly, is it really the smartest move for your bottom line?
As a real estate agent helping homeowners across St. John’s, Mount Pearl, Paradise, and Conception Bay South, I’m going to break it all down so you can make the right decision with confidence.
Cash Offers: Fast and Simple — But Not Always Profitable
Let’s be honest: the appeal of a cash offer is real. No banks, no financing conditions, fewer delays, and the possibility of closing in a week or two.
For some sellers, that’s a breath of fresh air — especially if they’re moving quickly, dealing with an estate property, or just don’t want the hassle of showings.
But here’s the truth that often gets left out of the conversation:
Cash buyers expect a discount. A big one.
Most cash offers in Newfoundland come in 5% to 15% below market value.
Why? Because investors and cash buyers expect to profit from the deal. They’re trading you speed and convenience — and in return, they want a lower price.
If your priority is speed above all else, this can still work. But if you want to maximize your equity, there’s usually a better option.
Traditional Listings: Exposure Creates Competition — and Competition Creates Profit
When you list your home on MLS, you’re exposed to the full pool of buyers:
- Local families
- Relocating professionals
- First-time buyers
- Out-of-province workers
- Investors
- Upgraders and downsizers
The more buyers who see your home, the more demand we can create. And demand is where better offers — and multiple offers — come from.
This is why homes listed properly in St. John’s, Mount Pearl, Paradise, and CBS often sell at or above asking price, especially when inventory is low.
One of my clients summed it up perfectly:
“Ryan understood our needs and was very accommodating — he sold our home in just 7 days. Would 100% recommend him to anyone looking to buy or sell.”
That wasn’t by accident — it was strategy, preparation, and strong marketing.
What Actually Happens in a Cash Sale?
If you accept a cash offer in NL, here’s the usual process:
- The buyer views your home — often briefly.
- They make an offer below market value — sometimes significantly.
- They run a quick inspection — mainly for their own investment numbers.
- Closing happens quickly — often in 7–14 days.
It’s fast, yes. But you skip the competition, skip the exposure, and skip the chance to attract full-price or higher offers.
You’re trading profit for convenience.
When a Cash Offer Does Make Sense
There are situations where a cash sale is the right move:
- You need to sell immediately
- You’re relocating on short notice
- The home needs major repairs
- You want to avoid showings or staging
- You value certainty over price
I’ve helped sellers in these circumstances, and a cash deal gave them exactly what they needed: a clean, quick exit.
But it’s not for everyone — and most sellers don’t actually need to sacrifice their equity to get a fast sale.
When a Traditional Listing is the Smarter Choice
If your goal is to get the best price, a traditional listing is almost always the winner.
With professional marketing, pricing strategy, and negotiation, I’ve helped homeowners:
- Sell in under a week
- Attract multiple offers
- Achieve above-asking outcomes
- Sell even when their home needed work
Listing your home doesn’t have to mean stress. My job is to handle the process so you feel supported, informed, and confident — from the first walkthrough to the final signature.
So… Cash or MLS? Here’s the Bottom Line
A cash offer gives you:
✔ Speed
✔ Certainty
✔ Convenience
But you give up:
✘ Profit
✘ Competition
✘ Market exposure
A traditional listing gives you:
✔ Maximum exposure
✔ Potential for multiple offers
✔ Higher sale prices
✔ Better terms and timelines
The right answer depends on your priorities — and your situation.
If you’re unsure which path is right for you, let’s talk about your goals, your timeline, and what your home could realistically sell for in today’s market.
I’m Ryan Elliott, your trusted real estate agent serving St. John’s, Mount Pearl, Paradise, and Conception Bay South.
Schedule a call using the Contact Page, and I’ll help you choose the smartest, most profitable path forward.