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SELLERS: Choose an ALL-CASH offer instead of FINANCED Purchase
Sellers, some of you are receiving multiple offers on your property for sale.  So what's a seller to do?  How to choose the BEST offer?
Well, if the price (and total costs) net the same, select the offer with the most cash financing.  For example:
An all-cash offer is better than an offer with a 50% downpayment and 50% financing A 50% downpayment is better than a 20% downpayment conventional loan A 20% downpayment is better than a 3.5% downpayment FHA loan "But why is an all-cash offer better than a financed offer," you may ask?  "I'll net the same amount of money in the end, right?"
Yes the NET may be the same BUT there are other issues that Sellers must consider:
1. An all-cash offer can close QUICKLY (assuming the buyer has funds available immediately -- ask for proof of funds).  Whereas, a financed purchase usually takes at least 30 days to close, and many times longer.  And the faster you get your money, the sooner you can invest it in something else, or simply be relieved of the hassle of selling your house.
2. All-cash offers don't have financing CONTINGENCIES.  Will the buyer's loan go through?  Won't it?  How can you be ... more

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