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
Answer: mortgages can be revoked/fall through. Someone with cash is seen as more attractive as they can literally fork over the cash.
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