Sellers weigh certainty against price. A cash offer below a strong financed one can still lose if the seller is confident the financed buyer's mortgage pre-approval, which typically holds for 90 to 120 days, is solid, so cash is leverage, not a guaranteed edge.
Where cash wins cleanly is on possession flexibility and speed to close, since a lawyer-driven cash closing can move faster than one waiting on a lender's final approval, which matters to a seller on a tight timeline of their own.
It is an advantage, not a trump card. Get your hand-reviewed valuation from Joel Dyck.