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Quick Tips To Beat Out Cash Buyers

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Mortgage and Lending with AmeriFirst Financial Inc. - for 1st Time buyers, move up buyers 208582 270557

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Quick Tips To Beat Out Cash BuyersYou've been searching for the perfect home for quite a while, and finally, you've found it! You get all of your finances in order and place an offer on the house.

However, you're not the only one that loves the home, because there are multiple offers — and one of them is cash.

Cash buyers are seen as desirable because they're almost always a guaranteed quick close.

They don't have to borrow money from a bank therefore won't have any financing hang-ups, which is where a large portion of offers fall through. Don't worry; not all hope is lost.

Follow the steps below to beef up your offer and get your foot in the door.

Less Expensive Homes

If you've put offers in on homes at the asking price and are continually beat out by buyers that are paying more, then you might want to consider looking in a lower price range. This is an especially smart strategy for those living in fast-selling markets. By looking at less expensive homes, you can be the one that puts in an offer over the asking price.

20 Percent Down Payment

Save up a higher down payment for the price range of homes you're considering. If you can come up with 20 percent, then you're in a position to wave the appraisal contingency for financing with the bank. The more you have in cash, the better.

Take-It-Or-Leave-It Home Inspection

This means that based on the home inspection, you'll take the property with all its issues, or you'll walk away. What you won't do is ask the seller to waste more of their time and money fixing every little problem that's found.

Fees

Waive the seller concessions, such as closing costs and the home warranty, and pay your real estate broker's fees. These extra costs add up in the mind of the seller and will show that you really want the property.

Going up against cash buyers can be extremely discouraging. But, just because they're dealing in cash doesn't mean they'll get the property. Many investors think they can put in a low offer because they're dealing in cash.

Personnel Letter: 

You can write a letter, telling the seller about you and your family and why you want to buy their home. Our clients are having great success at winning the offer, when  they include a letter into the offer. 

So show you're serious about a property, follow the steps above and put in your best offer. You'll be a homeowner soon enough in Phoenix!

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Gallegos Team 

We are here to help educate you about mortgages. If you are looking to buy or refinance a home then give us call. Do have questions about FHA, VA, USDA, Conventional, Jumbo, First Time home buying, Down payment assistance programs, HARP, Reverse Mortgage we can help answer these question. We also provide service in Spanish.

Cell - 602-692-4993 or 602-692-993Website www.solveyourmortgageneeds.com

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 AmeriFirst Financial, Inc., 1550 E. McKellips Raad, Suite 117, Mesa, AZ  85203 (NMLS # 145368). 1-877-599-4332 Copyright2012. All Rights Reserved. This is not an offer to enter into an agreement.  Not all customers will qualify.  Information, rates, and programs are subject to change without prior notice. All products are subject to credit and property approval. Not all products are available in all states or for all loan amounts. Other restrictions and limitations apply. AmeriFirst is required to disclose the following license information: AZ: Arizona Mortgage Banker License No. BK0013635; CA: Licensed by The Department of Corporations under the California Residential Mortgage Lending Act; CO: Regulated by the Division of Real Estate; WA: Washington Consumer Loan Company License No. CL-145368. 


 

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