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?
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After the home inspection by a certified inspector, many issues can arise. The bank may not be willing to loan “X” amount of money on a particular house, even though you felt the price was acceptable…
And even if the bank is willing, the potential buyer may suddenly realize the house they liked has serious issues that they don’t want to deal with.
A “cash” buyer does not need approval from a bank. For some reason, they are willing to pay a little more than what the typical house in that neighborhood is selling for at the time. Maybe they are in a hurry and are willing to pay $10K extra to smooth things out. Cash is cash…
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