The saying holds true. I just wrote about one of my listings in Westwing that was pending and after getting approved by the bank (short sale) the buyer canceled. It went back to active and within a couple hours went back to pending. We received a better offer being the new offer is cash and a lightning fast closing.
It is no surprise to me because this property is easily worth 300k and average price per square foot puts it at 337k. Bank approved a 280k price and we now have a cash offer for the approved amount.
The person who canceled lost in my opinion and the one who stepped up, gets to close on a beautiful home at a great price.
Comments(1)