401k: How Does a First Time Home Buyer Compete With All Cash Offers?
- 08/17/09 08:54 AM
I'm seeing a pattern these past few weeks. My last three offers I submitted for my first time home buyers were multiple offer situations. In each case a cash offer was selected. The first house had 13 offers - all cash. The second house had 12 offers - six cash, six FHA loans The third house had more than six offers - at least half were cash. To be clear, the third house we put an offer on was a near perfect foreclosure offered at $354,900. It would appraise at around $425,000. Our offer was $395,000 (FHA) closing in 35 days (buyer had 800 … (11 comments)
I'm seeing a pattern these past few weeks.
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