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Arty.
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March 9, 2008 at 1:49 AM #12040March 9, 2008 at 6:18 AM #166164
Bugs
ParticipantYour cash will buy a lot more house a year from now.
March 9, 2008 at 6:18 AM #166584ParticipantYour cash will buy a lot more house a year from now.
March 9, 2008 at 6:18 AM #166483ParticipantYour cash will buy a lot more house a year from now.
March 9, 2008 at 6:18 AM #166490ParticipantYour cash will buy a lot more house a year from now.
March 9, 2008 at 6:18 AM #166492ParticipantYour cash will buy a lot more house a year from now.
March 9, 2008 at 7:35 AM #166189EconProf
ParticipantBobS
Not only will all-cash offers often trump higher offers with financing, they can get you spectacular deals from desparate-to-sell owners, including REOs.
In 1997 I bought a Normal Heights 2-bedroom 1926 bungalow with a rotten foundation for $46,5OO. Had to pay cash since lenders would not lend on it to me or anyone else. Sold it 4 years later for $256k after collecting rent (to a contractor–I never did fix the foundation).
In today’s environment with lenders even more skittish, cash will rule.
The discount you are suggesting is way too modest. Offer $100 off and hold to it. You will get this property or another one like it eventually.March 9, 2008 at 7:35 AM #166609ParticipantBobS
Not only will all-cash offers often trump higher offers with financing, they can get you spectacular deals from desparate-to-sell owners, including REOs.
In 1997 I bought a Normal Heights 2-bedroom 1926 bungalow with a rotten foundation for $46,5OO. Had to pay cash since lenders would not lend on it to me or anyone else. Sold it 4 years later for $256k after collecting rent (to a contractor–I never did fix the foundation).
In today’s environment with lenders even more skittish, cash will rule.
The discount you are suggesting is way too modest. Offer $100 off and hold to it. You will get this property or another one like it eventually.March 9, 2008 at 7:35 AM #166507ParticipantBobS
Not only will all-cash offers often trump higher offers with financing, they can get you spectacular deals from desparate-to-sell owners, including REOs.
In 1997 I bought a Normal Heights 2-bedroom 1926 bungalow with a rotten foundation for $46,5OO. Had to pay cash since lenders would not lend on it to me or anyone else. Sold it 4 years later for $256k after collecting rent (to a contractor–I never did fix the foundation).
In today’s environment with lenders even more skittish, cash will rule.
The discount you are suggesting is way too modest. Offer $100 off and hold to it. You will get this property or another one like it eventually.March 9, 2008 at 7:35 AM #166515ParticipantBobS
Not only will all-cash offers often trump higher offers with financing, they can get you spectacular deals from desparate-to-sell owners, including REOs.
In 1997 I bought a Normal Heights 2-bedroom 1926 bungalow with a rotten foundation for $46,5OO. Had to pay cash since lenders would not lend on it to me or anyone else. Sold it 4 years later for $256k after collecting rent (to a contractor–I never did fix the foundation).
In today’s environment with lenders even more skittish, cash will rule.
The discount you are suggesting is way too modest. Offer $100 off and hold to it. You will get this property or another one like it eventually.March 9, 2008 at 7:35 AM #166517ParticipantBobS
Not only will all-cash offers often trump higher offers with financing, they can get you spectacular deals from desparate-to-sell owners, including REOs.
In 1997 I bought a Normal Heights 2-bedroom 1926 bungalow with a rotten foundation for $46,5OO. Had to pay cash since lenders would not lend on it to me or anyone else. Sold it 4 years later for $256k after collecting rent (to a contractor–I never did fix the foundation).
In today’s environment with lenders even more skittish, cash will rule.
The discount you are suggesting is way too modest. Offer $100 off and hold to it. You will get this property or another one like it eventually.March 9, 2008 at 8:23 AM #166532Eugene
ParticipantIt’s all the same for the seller IMHO. The only situation where a cash offer might hold extra weight is when there are doubts that you can get a loan on that house (e.g. it’s a fixer-upper with structural defects). Mortgage preapproval letter should be as good as cash.
In todays market it is not wise to put more money down than you must.
March 9, 2008 at 8:23 AM #166624ParticipantIt’s all the same for the seller IMHO. The only situation where a cash offer might hold extra weight is when there are doubts that you can get a loan on that house (e.g. it’s a fixer-upper with structural defects). Mortgage preapproval letter should be as good as cash.
In todays market it is not wise to put more money down than you must.
March 9, 2008 at 8:23 AM #166529ParticipantIt’s all the same for the seller IMHO. The only situation where a cash offer might hold extra weight is when there are doubts that you can get a loan on that house (e.g. it’s a fixer-upper with structural defects). Mortgage preapproval letter should be as good as cash.
In todays market it is not wise to put more money down than you must.
March 9, 2008 at 8:23 AM #166523ParticipantIt’s all the same for the seller IMHO. The only situation where a cash offer might hold extra weight is when there are doubts that you can get a loan on that house (e.g. it’s a fixer-upper with structural defects). Mortgage preapproval letter should be as good as cash.
In todays market it is not wise to put more money down than you must.
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