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.
What to say about Jill.....well she is just amazing! If you want a Realtor who will truly look out... read moreWhat to say about Jill.....well she is just amazing! If you want a Realtor who will truly look out for your best interests, give you her honest professional input and who understands the Houston area market, she is the one. She is so knowledgeable in every aspect of purchasing/selling a home and she shares all of that information with her clients. We knew she was super busy, but she never made us feel that way. We almost felt like her only clients! She is just that good! She spends the time to get to know you and what you like and she is quick at picking it up. She will give you her honest thoughts, whether you like what she is saying or not, but you know it is honest and each time she was right! She is professional, compassionate, friendly, and definitely goes above and beyond for those she works for. I really don't think you can get better ;) We were referred to her by a friend and I will be forever thankful. She not only got us into an unbelievably beautiful home at an unbelievably good deal, she helped support us through a rough sell of a home in another state. I have so much respect for her and I think any prospective home buyer/seller would be lucky to have such a great Realtor guiding them through the process. Thank you Jill for everything you did! Especially taking care of my husband as you showed him homes :) read less