Wonders never cease! I am knocking on wood today! We finalized a contract on one of my few market listings with a cash offer! No contingencies....no mortgage commitments....OMG....I must be dreaming!
Don't wake me up....its too good to be true but it's one of those rare events...the only thing missing would have been a full cash offer! OK....now I am pushing my luck!
With only short sales and foreclosures as "solds" and the last activity over 6 months ago it would have been difficult if we had to have an "appraisal" for a mortgage. The home is barely 5 years old and in excellent shape but most buyers will expect the same price that the distressed homes are selling for.
So, fellow Realtors(R), please educate your buyers....liquidation prices versus market prices. They both may be low in today's market - but don't expect a short sale/REO price on a market listing.
Need to get more listings....market, short sale or REO's....and hopefully, I won't have to wait for another blue moon for a cash offer!
Enjoy the weekend!..I Am!