Unquestionably, an all cash offer will trump offers with financing. And some financing contingencies deserve to be laughed off. Cash is king.
OTOH I’ve experienced worse terms in getting financing on a property that I own free and clear vs. one with financing in place. Either the rate is higher or the LTV allowed is lower. Makes no sense, as the lenders ought to see a F & C owner as a better risk. But as we know, lenders can be pretty stupid.
OT, Black Swan, are you the Black Swan that posts frequently on Mish’s site?
