What to offer

[tamitrail]

I agree that cash does make a difference. I have read on these boards many, many times how someone's financing fell through. Financing doesn't fall through with cash and would make me feel more comfortable.

[ShannonMilligan]

But, I wouldn't accept an offer unless they had their financing secured...so really doesn't matter to me. And I think most people wouldn't take an offer without the letter and down payment and earnest money.

[drjones96]

Yeah I would want to see some earnest money and see that they had their financing in order. But whether it was cash or whatever it makes no difference at closing.

Closing sooner would be a plus I suppose. At least the seller could know the buyer isn't blowing smoke if he has the cash to do the deal. But a buyer with cash could back out just as easily as one who is paying with a loan.

[Brandon Hoffman]

Originally Posted by Lagarden

We found a house that is listed at 295, it's in pretty good shape except for needing new roof, new windows and new outside doors plus a couple of other little things. The comps in the area are selling for 250.
We want to offer cash with a quick settlement date. We are planning on doing an inspection, but not asking for repairs. We want to reflect that in the offer price and do the repairs ourself. I keep seeing that the market is going to continue to go down. What would you offer?

I'm not in a position to tell you what to offer. You're local agent should be in a position to put together comps and interpret the data to help you make a pricing decision. However, for a fast closing and getting the best price put down a large earnest money check and don't nitpick in the offer. Just make it a nice clean offer. If you're taking out a mortgage get the approval done where you just need to locate the property and can close fast. Have your paperwork turned in and the lender ready to go.