An all-cash offer doesn’t mean showing up with a suitcase full of cash. But it does mean a buyer has the means to purchase the home without taking out a mortgage.

That may seem impossible to people struggling just to save up for a 20% down payment, but the all-cash offer is becoming increasingly common. In April, 25% of all home sales were all-cash deals, up from 15% a year ago, according to the National Association of Realtors.

To sellers, the appeal of a cash offer is that there’s less risk of the deal falling apart and they usually close faster than a mortgage-contingent offer, said Arlene Gonnella, an agent with Weichert Realtors in Short Hills, New Jersey.

“It makes a stronger offer in this market where sellers are faced with many competing offers,” she said. “Sellers are able to know with certainty they have a done deal.”

While cash buyers will usually still conduct an inspection, the deal is not contingent on mortgage financing…

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