CASH is KING NUMERO ONO!!

Definitely a duh moment.  The banks should be accepting slightly less than the listed price for an all cash offer that is going to close.  I can't believe they would counter.

Hi Leolinda~  All the more reason to only show that they have the amount they are willing to pay on the proof of funds letter!  If I represent a a cash buyer, I still encourage them to get an appraisal done.  

Take the money!   A Cash Buyer is almost always better than someone who needs Loan Approval / New Financing.

As a broker I know put it to a bank rep, "only a fool would pay more for something than it's worth".

So right, Leolinda.  However, I think the problem the banks have is that so many cash buyers are offering 50-70 cents on the dollar.  If the offer is fair and if the listing agent hasn't "low balled" the listing just to get a contract, then it should be a no brainer.  On my last two listings, the offers from "cash buyers" were ridiculous.  I recently saw a short sale listing at $100,000 BELOW everything in the neighborhood.  When I called the agent, she said she listed it that way just to get offers so she could get the bank to START talking to her and the sellers about a POSSIBLE short sale. 

So, here's an EASY fix to the problem. If the banks would talk to us and the sellers UPFRONT, get their BPO's and/or appraisals done BEFORE we actually list it and within a very short time frame - no more than 30 days at the most, WE could then list the property and move them for the banks at short sale values as opposed to waiting months and months for the bank to foreclose, then they do their BPO's and appraisals and THEN tell us what they will take.  That, after spending thousands of dollars in work hours as well as the hard costs. 

IS ANYONE LISTENING OUT THERE?  LOL.