Why cash talks loudest in Windermere Home Buying
The Windermere Real Estate Market is good…real good. Properties are selling and inventory is shrinking. The proverbial “supply and demand” is making multiple offers a common occurrence. It is not unusual to get many offers on a nice home within a day or two, so sellers are getting to pick and choose which offer they like best. Cash still talks loudest in Windermere Home Buying.
Here is why a CASH offer is still “King” in Windermere…
1. A CASH offer is usually a solid offer for the seller, so the seller can make real plans to move. No financing to fall through at the last minute and no delays over an underwriter requesting a yellow copy of a bank statement from 5 years ago years, or the DNA of the mother-in-law who is co-signing.
2. No appraisal requirement. Even though the buyer may elect to have an appraisal contingency, it is typically not a deal breaker if it comes in a bit short. Currently, 30% of appraisals in Central Florida are short and typically a deal breaker for financing, particular when buyers are stretching just to qualify.
3. A few deficiencies on an inspection report will not send a CASH buyer into a tailspin. A financed buyer may not have extra funds for any repairs or remodel. A cash buyer typically has extra funds for issues that come up.
Although a low cash offer will not trump a better financed offer…if things are almost the same the CASH will talk the loudest in Windermere Home Buying.
Copyright @ Buyers Broker of Florida 2012 “Why CASH still talks loudest in Windermere Home Buying”