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Reply to "put down 10 or 20% on home?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]If you are expecting to be against multiple bidders, I would do 20%. When we had our choice of buyers, we wanted the ones with the most financially sound offer and most likely to close.[/quote] I'm not sure why you think a 20% down payment is more likely to close than a 10%. The largest incentive to close would be the bid with the highest EMD. Without a credit report in hand, there's no way for you to assess the financial soundness of a 10% vs a 20% down payment offer. [/quote] +1 Highest bid wins, or some combination of ALL CASH and the highest bid. I don't care 10 vs 20 when selling---but I would consider an all cash offer over someone needing a mortgage---all cash can close in 2 weeks at most 3 whereas a mortgage will take longer and more chances for issues to occur[/quote]
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