We recently sold a foreclosure in McKinney and I believe the bank accepted our offer because the buyer was bringing cash to the table. The bank did not have to be worried about the buyer getting a loan that could make it to closing. Is anyone else out there seeing renewed interest in transactions that do not involve a mortgage?
Donovan Blatt Realty - Costa Mesa, CA
Broker/Attorney 714-319-9751 DRE01267479 - Costa M
I think this is especially true given the condition of some properties we are seeing which can't get conventional financing because of things like missing bathrooms and exposed wiring or worse.
Jan 06, 2009 05:56 PM
Ebby Halliday Real Estate - McKinney, TX
Christine, you are right about that. mortgage lenders will not lend on properties in need of too many repairs. Luckily our sale was in good shape. The inspection was very good. Closes next week!
Jan 06, 2009 10:06 PM
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