Who know's real estate/business/banking?
Serious thread is serious.
A house is in a short sale.
Multiple offers are put into, being looked by the bank.
1) What are the chances of buyers putting in all cash for a house around 600,000$ to 900,000$?
2) If an all cash offer is offered, is there a higher chance of getting it than a person who offered lets say half and do the rest financial loan/etc or w.e?
3) Put 10,000$ more into the asking price in the cash offer make a difference?
Please ask anyone you know that's a broker, real estate agent and etc.
Thank you.
A house is in a short sale.
Multiple offers are put into, being looked by the bank.
1) What are the chances of buyers putting in all cash for a house around 600,000$ to 900,000$?
2) If an all cash offer is offered, is there a higher chance of getting it than a person who offered lets say half and do the rest financial loan/etc or w.e?
3) Put 10,000$ more into the asking price in the cash offer make a difference?
Please ask anyone you know that's a broker, real estate agent and etc.
Thank you.
Comments
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some people do ^^i doubt anybody have 600k-900k cash in their hand....
Nope, it's a serious question. and it's not for any of my classes? im in HS, you think they have real estate classes there?sounds like someone doesn't feel like reading and doing their homework -
Seller would be getting the money either way, less the brokerage fees. The benefits of an all cash offer is the fact that the person has the money right away, meaning you don't have to wait for bank approval to close the sale. Approval for financing a mortgage can take a few days/weeks depending on how stellar a credit rating the person may have. On a final note, a person making a cash-only offer can use that as a bargaining tool to secure a lower closing price (and is probably a coke dealer if he has 900k lying around).
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