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Buying a house with cash involves making an 'all-cash offer,' which means the buyer doesn't need a mortgage loan. This simplifies the buying process, speeding up the closing and potentially increasing the offer's attractiveness to sellers. As a cash buyer, one can follow tips from experts like Phil Spencer to navigate the process, which typically involves a home inspection, negotiation, and finalizing the purchase at closing. Selling a house for cash also works similarly, with faster transactions and fewer contingencies.

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