Why do home sellers prefer a “cash” buyer? Wouldn’t they get the same amount of $ as a check from the bank if the buyer has a home loan?
In: Other
Something folks don’t think about when considering a cash offer vs a financing offer–while you’ll be entitled to keep the deposit, the idea that you’re going to sue the purchasers who balked at a cash offer and be successful (ie see it out and have the purchasers have the cash on hand to satisfy a Court’s judgement) is low if not impossible for the common home vendor.
(YMMV–I’m in Ontario–there is literally a different real estate conveyancing system in every province and every state and they vary broadly)
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