cash offers: Why Take a Mortgage Contingency Over Cash Offer? - 05/08/14 06:16 AM
Why Take a Mortgage Contingency Over Cash Offer? There is lots of cash in the market right now and many cash buyers looking to buy much of the inventory of condos in Boston.
This week a client of mine had five offers on her condo, two of them were cash.  But she chose to take an offer with a mortgage contingency instead.
Why would she subject herself to the risk of a buyer's financing falling through?
1. Savvy buyers with a mortgage contingency will often offer much more money, to make up for the risk of an offer with a financing … (3 comments)