Reply to Escalation clause...yes/no?

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[quote=Anonymous][quote=Anonymous]Decide on the maximum you will pay for the house and make the offer accordingly. Don’t automatically expect the sellers to take your all-cash offer if someone else is willing to pay more with a mortgage.[/quote]

This---the cash offer will help if offers are similar.  As a seller, I prefer a cash only offer.  So if I had two offers and one was slightly lower and cash only I might take it.  But I'm talking a $1.5M home listed, offers of $1.60 Cash and max escalation of $1.6 + $25K, then I might just take the cash offer.  But any more difference and I'm taking the highest offer (as long as they are strong candidates and are preauthorized for a mortgage---more than just a preapproval that means nothing)

The closing with cash are so quick and simple.  In our area you can close with a cash offer in 21 days sometimes a bit less.  A mortgage will take 4-6 weeks typically.  So when we sell (or buy) we always want to close ASAP to avoid any issues that could delay.

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