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
In our area, inventory is so low (especially for houses over $600K or so) they are having a hard time getting accurate appraisals/comps. This can be a huge sticking point. Bank isn’t going to finance the loan if they don’t get an appraisal matching the offer $$.
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