Any offer that relies on a mortgage will have a clause indicating it is conditional on the mortgage coming through. A buyer would be insane not to do this unless they have the cash anyway. Even if it is a preapproved mortgage, there’s always a chance that something can go wrong.
Any offer that relies on a mortgage will have a clause indicating it is conditional on the mortgage coming through. A buyer would be insane not to do this unless they have the cash anyway. Even if it is a preapproved mortgage, there’s always a chance that something can go wrong.
But you have to put up your earnest cash within a few days.
But you don’t have to do that with a buyer paying with cash.
Plus the closing timeline is much longer for a mortgage vs cash
On top of that it takes 30 to 45 days to close. Where cash they close right away.
Why the rich landlords are buying up all the homes in the area. I got lucky to buy my home.