Tips from a seller why just had home go under contract

[Anonymous]

Anonymous wrote:

Anonymous wrote:Ok, I’ll bite. If I’m offering 30 to 50% down w bank approval etc., earnest money of 50k to 100k, pre-inspection with inspection contingency waived, perhaps escalation clause, how/why is all cash really better? Clearly I’m serious and going to close. You’re going to get your money.

Do you have an appraisal contingency? I know appraisals are a scam, but it’s still one more thing that can go wrong especially if you escalated way over list.

Would that appraisers were a scam. Then people would not have to waive them.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Ok, I’ll bite. If I’m offering 30 to 50% down w bank approval etc., earnest money of 50k to 100k, pre-inspection with inspection contingency waived, perhaps escalation clause, how/why is all cash really better? Clearly I’m serious and going to close. You’re going to get your money.

Cash buyer can close in 5 days and the seller gets their money faster. Anything can happen to you during the 30 day period between contract, loan approval, and closing. The seller is taking security of a cash offer unless you pay for their risk to wait 25 days for their money.

Thanks for elaborating, as well as comment from PP about appraisal contingency. Does developer all-cash interest hold at the ~$1.5m price point, or more at the $1m to flip price point?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Ok, I’ll bite. If I’m offering 30 to 50% down w bank approval etc., earnest money of 50k to 100k, pre-inspection with inspection contingency waived, perhaps escalation clause, how/why is all cash really better? Clearly I’m serious and going to close. You’re going to get your money.

Do you have an appraisal contingency? I know appraisals are a scam, but it’s still one more thing that can go wrong especially if you escalated way over list.

How are appraisals a scam?

[Anonymous]

Market is brutal
home buyers make offer sight unseen
https://www.usatoday.com/story/money/2018/04/05/home-buying-market-so-brutal-some-home-buyers-make-offer-sight-unseen/467173002/

[Anonymous]

Anonymous wrote:Hot tips, those.

Yeah congrats to the OP who sold their house. It doesn't take much these days so I wouldn't exactly claim to be an expert.

[Anonymous]

Hey OP - I assume you are getting destroyed on the deal you are making as a buyer. Ha ha. What goes around comes around.
You seem overly impressed with yourself. Those "tips" are pretty obvious.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Ok, I’ll bite. If I’m offering 30 to 50% down w bank approval etc., earnest money of 50k to 100k, pre-inspection with inspection contingency waived, perhaps escalation clause, how/why is all cash really better? Clearly I’m serious and going to close. You’re going to get your money.

Do you have an appraisal contingency? I know appraisals are a scam, but it’s still one more thing that can go wrong especially if you escalated way over list.

How are appraisals a scam?

I don’t really know but my impression was they rely a lot on realtor relationships and can fudge pretty hard on the comps as needed to get to the desired number.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Ok, I’ll bite. If I’m offering 30 to 50% down w bank approval etc., earnest money of 50k to 100k, pre-inspection with inspection contingency waived, perhaps escalation clause, how/why is all cash really better? Clearly I’m serious and going to close. You’re going to get your money.

Do you have an appraisal contingency? I know appraisals are a scam, but it’s still one more thing that can go wrong especially if you escalated way over list.

How are appraisals a scam?

I don’t really know but my impression was they rely a lot on realtor relationships and can fudge pretty hard on the comps as needed to get to the desired number.

Appraisers are hired by the buyer's lender. The listing agent generally meets the appraiser at the property but they've no influence beyond providing comps which the appraiser may or may not use. Agents can also give info on improvements to the property, plat and floorplan. The rest is up to the appraiser.

[Anonymous]

Buyer is the bitch , just part of the cycle

[Anonymous]

yeah I love how OP acts like they don't get bent over the barrel when they are on the buying side. or are you somehow immune to your own rules OP?