Apparently “real” people need to use someone else’s money. Which means real people may not be able to actually commit to buying said property.
And yep, there are bidding wars with vapor money and they don’t me jack. Why? Because most of them won’t qualify for a loan.
It’s really simple. The people with the cash are the people that can really BUY. They don’t need anybody else’s approval to buy. They don’t have to dink around for 60 days trying to get appraisals to match, force their paperwork through the bank for the loan or anything else. They can say I will buy, and that’s it. They can buy.
The ‘real’ buyer can’t. Pure and simple, all talk no …
