When you make offers on a property, cash is king.
How would you like to be in that position of making a cash offer, get better terms, and win in the multiple offers we see in this market even if you don’t have the cash to do it? This works for 1st time buyers, investors, and buyers with a house to sell first.
Keep reading, I’ll share a new option I have for you. First, I’d like to share something about our market right now.
I just listed a house in Gwinnett County for $230,000. In 3 days we had almost 50 showings and 13 offers. About half of those were cash. That reflects how little inventory we have right now. A balanced market is 6 months of inventory. We have 0.2 months (less than a week’s worth) in this price point. I’ll update you on this deal once it’s done but so far it looks good and the sales price is over my list price.
Back to the cash offers. I have an option for any of my buyers who are looking for an edge in this market. That includes folks who have a house to sell before they buy. We can flip that around so you buy (for cash) before you sell so you don’t have the chance of being homeless or renting an Airbnb for an extended period.
In most scenarios I see, the buyers with contingencies (loans, houses to sell, appraisals) make offers way over the list price just to get considered. They agree to guarantee any shortfall in the appraisal and that costs them lots of money if it doesn’t appraise.
Using the options I’m talking about, when you make a cash offer with a quick close and no contingencies, you get a better price, beat the competitors that aren’t cash, and have a 3 times better chance of getting a deal. Overall, it can actually cost you less than overbidding.
I know, this sounds too good to be true so….
But it’s not. If you’re in this spot, if you have thought about downsizing and are afraid of ending up homeless or if you or someone you know is struggling in this market to get the deal you want, call me and we’ll talk. I’ll share all the details, we’ll talk numbers and see if this works for you or your friends or family.
Thanks for listening,
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