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Real Estate
Reply to "How many offers have you lost this year?"
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[quote=Anonymous][quote=Anonymous]I truly don't understand why sellers take an all cash offer that is lower than another offer. Won't the seller end up with the larger amount of cash if they take the higher offer even if its a 10% or 20% DP and the rest a mortgage? Why would a seller care? [/quote] Because if there is an appraisal contingency then higher price doesn’t matter as buyer can renegotiate to appraised price and walk if seller refuses to budge. Also, even without appraisal contingency, there is appraisal contingency language built into a financing contingency. The way the contract is written matters. [/quote]
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