Miami Beach buyers turn to all-cash deals

From The Real Deal

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Reluctant banks have led to a new wave of buyers in Miami Beach real estate — those looking for quick, all-cash deals. With financing not just difficult to obtain but also time-consuming, sellers are looking to move their homes faster, and buyers, with cash lining their pockets, are ready to move on deals.

As has been the trend in Miami Beach, the new all-cash buyers are Europeans armed with easily accessible funds and eager for quick deals on higher-end properties.