A Rare Thing - Cash Offer on Market Listing!

By
Real Estate Broker/Owner with Heart Realty Group, Inc.. IL-471.002355

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!

 

 

 

 

Posted by

Evelyn Santiago

Managing Broker/Owner - 630-251-0059

Heart Realty Group, Inc.

We are Passionate About Real Estate!

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Ambassador
1,894,419
Cindy Jones
Integrity Real Estate Group - Woodbridge, VA
Pentagon, Fort Belvoir & Quantico Real Estate News

I had a cash closing to start this year.  The buyers got a great price and the same model townhouses are selling for 50K more now!

May 15, 2009 11:50 AM #1
Rainer
166,874
Sharon Senger
tcDocs - Seattle, WA
Licensed Transaction Coordinator

Evelyn,

Congratulations!

It is great to hear some good news.

Happy Friday :)

 

May 15, 2009 12:01 PM #2
Ambassador
535,424
Kate Elim
Dockside Realty - Spotsylvania, VA
Realtor 540-226-1964, Selling Homes & Land a

Hi Evelyn...Congratulations.  Hope your good fortunate continues.

Fortunately the market has gotten busier for many.  There are some wonderful buys out there and it good to see some people are recognizing that and moving forward.

Kate

 

May 15, 2009 12:02 PM #3
Rainmaker
227,826
Debi Braulik
www.roundrealestate.com - Maple Valley, WA
Selling Maple Valley to Fife WA Homes For Sale

Congrats!!

I have a listing closing Wednesday that is a cash offer. It's such a great feeling!

May 15, 2009 01:05 PM #4
Rainmaker
322,828
Evelyn Santiago, Managing Broker Heart Realty Group, Inc.
Heart Realty Group, Inc.. - Oswego, IL
Passionate About Real Estate & Our Clients!

I am delighted that other fellow professionals are able to enjoy this rare opportunity to have a cash offer.  It makes for an easier transaction without the additional roadblocks with inspections and mortgage contingencies.  Thank you all for your kind comments!  Glad to be a member of this small group.

This is good news and hopefully our individual success means that the turnaround is around the corner.  This is my 2nd cash offer this year - the 1st was for a bank owned property for less than $40K and was understandable.

Let's keep our fingers crossed, keep positive and keep learning so we can be part of the solution to this market.

 

May 18, 2009 03:33 AM #5
Rainmaker
227,826
Debi Braulik
www.roundrealestate.com - Maple Valley, WA
Selling Maple Valley to Fife WA Homes For Sale

Hope it goes through for you. My cash buyer wired funds ($206k) about a hour ago so we will close on time this afternoon. :) Yeah.

May 20, 2009 07:50 AM #6
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Rainmaker
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Evelyn Santiago, Managing Broker Heart Realty Group, Inc.

Passionate About Real Estate & Our Clients!
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