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
Just wanted to vent that I’m in California right now as a buyer trying to buy a home in the 1.2m range and have lost all my offers to others with cash offers. On average my offer has been about 50k above asking price and as high as 100k. Who are all these people with a million dollars in cash that I’m losing to?!
Latest Answers