[quote=SD Realtor]You have not given any reason why the complex is cash only. Generally in situations like this the market conditions have nothing to do with the ability to finance. [/quote]
That’s not always true. My niece just had her loan foreclosed. She paid $230K w/ 20% down around 3 years ago. (this is in phoenix, not sd.) She had a lender approved short sale at $85K, and the buyer’s lender backed out after she had already signed docs. Turns out an investor had just bought 20 units for $60K each for all cash. The buyers appraisal was fine, but the lender refused to fund. My nieces lender gave an additional 30 days to find replacement financing but none was available, even with 50% down. No lender would loan on this project.
