“Competing with a Cash Buyer”
I was quoted in this article on this very topic.
So often a Realtor will call me and ask me about my pre-qualification and that is extremely important when it comes to competing against another buyer especially a cash buyer.
If there is no difference in the offer more times than not the cash offer will win out, but that may not be best for the seller. The offered price, contingencies and occupancy will also come into play so understanding the strength of the buyer is vital to a successful transaction.
I bid on a property recently that was part of an estate that was being liquidated and was an all-cash offer. I didn’t get the property. I was told the folks that got the property offered $2,000 more, but there were contingencies, a perfect example where my cash offer didn’t get it done. The buyers must have a good loan officer.
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Joe Petrowsky, NMLS #6869
Right Trac Financial Group, Inc. NMLS #2709
110 Main St.
Manchester, Ct. 06042
Office: 860 647-7701 x116
Fax: 860 647-8940
Cell: 860 836-9294
Joe Petrowsky does not guarantee nor is in any way responsible for the accuracy of the information provided herein, and provides said information without warranties of any kind, either expressed or implied.
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