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Sometimes there are phrases in ads that indicate something very specific.
I wondered, if an ad said the seller was hoping for a quick sale, would that be likely to mean:
-the seller is willing to negotiate down the price
-the seller hopes for a buyer with a pre-approved mortgage
-the seller hopes for a cash sale with no mortgage
-or...?
I think it means they may be more flexible on the price. I wouldn't low ball too much, but I think you can try right on the borderline of the lowest reasonable offer and you might get a good counter offer and get a good deal. But they will also most likely want to close quickly so be prepared for short timelines for inspection and asking for a closing date that is sooner rather than later, so make sure you've got all your ducks in a row.
I think it means they may be more flexible on the price. I wouldn't low ball too much, but I think you can try right on the borderline of the lowest reasonable offer and you might get a good counter offer and get a good deal. But they will also most likely want to close quickly so be prepared for short timelines for inspection and asking for a closing date that is sooner rather than later, so make sure you've got all your ducks in a row.
In this case, I hope to eventually be the seller, not the buyer. I was wondering if there's some magic phrase to indicate hopes of someone not needing a mortgage - but I guess everyone hopes for that.
nope, there's no way to indicate that you want a cash buyer - and even if you could, it would severely limit your pool of potential buyers, and most likely make you wait longer to find a buyer. But no, I don't think everyone hopes for a cash buyer. I mean, it's nice to know that you don't have to worry about their financing falling through but money is money when it hits your bank, it doesn't really matter where it comes from. And a cash buyer can still do an inspection and an appraisal, so you still have to worry about those.
"Seller was laid off and wants to sell the house soon since they can't make the mortgage payments."
"Seller was transferred by their work and wants to sell the house and not worry about it."
"Seller found another place and needs to sell this one to have money for a down payment."
"Seller is going into a nursing home and needs to unload the house."
You get the idea.
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