So here's the deal...I have this listing in Summerset, an active adult community in Brentwood, CA and I receive a phone call today from an agent who says that she has an ALL CASH buyer for my listing! GREAT!!! I think...then she proceeds to tell me how wonderful her buyer is....they have a house to sell before they can give us the cash, the house is in Antioch, in an older neighborhood, they have money to put down but want to wait to see if they can sell their house. WHAT??? H e l l o....we're talking Antioch here, and they don't want to ask REO prices, they want to go back to the three year ago value as they are not an REO sale. SO????
I asked if they could take out a bridge loan, but they don't want to do that. But they reminded me that they are a CASH BUYER. so....in my opinion there really is no great difference. If you have good lender, and a good credit score the seller will get their money. Money is money and it doesn't really matter where it comes from, the only difference is the amount of time it could take you to close. But don't tell me you have a cash buyer if you want to be contingent (for a year or more). People, get realistic, cash is good if you are going to close quickly, it gives you GREAT leverage, but if not, don't bother trying to buy something for 30% less than asking.
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