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
Buyer can offer 1,000,000,000,000,000 for your shitty house but if it doesn’t appraise then they’re not getting the loan and your house is back on the market and you just lost 2-3 months of potential time to sell your house. Cash is king
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