The seller gets the money from the bank, so why would sellers prefer a cash buyer?
2007-05-14 00:52:30 · 3 answers · asked by DCPete27 3 in Business & Finance ➔ Small Business
With financing, things can go wrong. The seller takes their home off the market, turns away countless potential buyers, only to have the the financing fall through. Cash transactions are fast and easy, and well, cash! Who doesn't want cash? Cash buyers sometimes forego bank-required inspections in order to expedite the process.
In short, it's a quicker, easier, almost guaranteed transaction.
2007-05-14 01:25:25 · answer #1 · answered by Anonymous · 0⤊ 0⤋
What's in you contract regarding an acceptance date? Even though you offered the asking price it's very common on a short sale for the bank to wait until the last allowed day to accept in hopes they'll get a better offer. Short sales are sometimes bidding wars. Even though you offered the asking price the bank might come back and ask if you want to increase your offer. I gave the bank 120 days on a recent purchase and got an answer on day 119.
2016-03-31 23:57:50 · answer #2 · answered by Anonymous · 0⤊ 0⤋
a cash buyer is usually someone who has the money upfront and ready,they are not waiting to sell a house before they can buy
2007-05-14 00:57:11 · answer #3 · answered by dumplingmuffin 7 · 0⤊ 0⤋