Cash Offer House
I have put in a cash offer on a house in short sale, but there is another offer in, but they require financing?
What are the chances that I will get this house when my bid is actually lower than the other?
What are the chances that I will get this house when my offer is actually lower than the other? Both offers have been accepted by the seller, but it is ultimately up to the bank at this point.
I am the second offer. I was told in short sale mode more than one offer can be accepted by the seller, but it is up to the bank in the end. With my offer they won’t need an appraisal, and they won’t have to wait on having me jump through credit hoops. They can just take my money and be done with it.
I am a licensed real estate broker specializing in buying and selling short sales.
The bank could care less what the listing agent lists the house for. The bank will want to net the most amout of money as fast as possible close to their understanding of fair market value (which is determined by their own BPO/appraisal). I’ve seen lower cash offers get accepted over higher financed offers because the cash offer can close in 7 days as opposed to the 30 days.
Here’s a blog on how to buy short sales which will explain how to get them cheap:
http://activerain.com/blogsview/1070569/how-to-buy-a-short-sale-a-must-read-for-agents-and-buyers-
Free Special Report: Cash Offer House
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About the Author:
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Article Source: ArticlesBase.com – Cash for House
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