We're supposed to be in a down market right? My last three offers were 2 REO's and 1 Seller owned property, all three were multiple offer situations. I have a qualified buyer with a 20% down payment and excellent credit scores. We lost all three to all cash offers from investors. Our offers were in second place on each of the three. Seems the bank and sellers will accept all cash offers if it's basically the same as another offer that requires financing.

The listing agents told me the all cash offers were above the asking price, which was already higher than the property would appraise for, and so was ours. With the appraisal contingency in effect we know if the offer is accepted at the higher price the bank and seller will lower the price to the appraised amount to keep the transaction alive.

I understand the reasoning behind the banks and sellers decisions to take all cash but still can't help but feel frustrated. I know the all cash offers can still get financing before the close, and a lot do.

Not much can be done about this situation, just keep moving onto the next one and hope we find a property that is not in a multiple offer situation.

So if you think the market is stagnate, think again. It's alive and well, just takes a lot of dedicated work and knowledge of current market conditions to get it done. I spend a lot of time educating my buyers so they understand the market conditions. If you don't educate your buyers they may lose faith in your abilities and all the hard work you've done so far will be for nothing. Thankfully my buyers have been educated to the market conditions and stay faithful.