Suppose I’m selling my house for $800k in California. I have a buyer with a traditional financing arrangement (30 year loan) and a cash buyer. As the seller, I get my money regardless of whether a bank pays me or an individual cash buyer. Why do people get excited over the cash buyer?
In: Economics
“Cash” buyers are sought after mainly because they’re not selling their house in order to purchase a new one.
This can break a chain of buyers and sellers that have confirmed offers but cannot purchase the new house until their current house has been sold.
Once a “cash” buyer comes in then the whole chain of buyers and sellers can complete.
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