Why is CASH considered KING in real estate? Because it comes with less contingencies and offers the seller a quicker close.
The advantages a cash buyer has over a financed buyer are:
Quicker close: A cash buyer can closer quicker on a house than a financed buyer thus reducing the sellers holding costs. A cash transaction can close in as quick as 14 days while a financed transaction can take between 21 – 45 days.
No appraisal contingency: A buyer paying cash does not have to get an appraisal on the house. There’s one less contingency that has to be removed. One less opportunity for the contract to bust out. A buyer who is securing financing will be required by his lender to get an appraisal. If the property’s appraised value does not equal or exceed the agreed upon sales price, the buyer can terminate the contract.
No financing contingency: A cash buyer is not waiting to receive final loan approval from a lender. He already has the required funds to close on the purchase of the Spring TX house. A financed buyer may or may NOT receive loan approval. Although the financed buyer has initial loan approval / loan preapproval, it is NOT full loan approval. If the buyer is unable to secure full loan approval, the sellers house goes back on the market.
On time closing: A cash buyer offers a seller a guaranteed on time closing. A financed buyer may or may NOT close on time. The financed buyer is at the mercy of his lender’s underwriter schedule and the timeline requirements for disclosure of closing documents. A cash buyer is not waiting on a third party to perform their tasks. He already has the money to close on the house.
CASH is KING in real estate because it offers the seller more certainty that he’s going to close sooner and on time and at the agreed upon sales price.
Jill was phenomenal during every step of selling my father's home. This process was extremely difficult for me, as... read moreJill was phenomenal during every step of selling my father's home. This process was extremely difficult for me, as my father passed away last year. Jill listened to EVERY story I had, and there were a lot of them! She allowed me to share the memories of the house, which helped me prepare to let it go.
She is very knowledgeable in what to and what not to do in regards to getting the home ready to sell, what to tackle during the negotiation process and she made the closing extremely convenient. She was thoughtful enough to place the "sold" sign on the property a week in advance, to allow me time to process it all.
Paying constant attention to what is happening around your listing is one of JIll's many strengths. Her goal is to get you the most money for your property, and she has different strategies to that end result.
I not only gained a new realtor, but in JIll, I also gained a friend! I will be forever grateful for her through this tough process and I know my Dad would have loved her! "Thanks," will never be enough! read less