The value of a cash offer to a Tulsa home Seller is increasing as Lending requirements are becoming more stringent. The true value of cash versus financing is the multiple unknowns it removes from your real estate transaction.
No chance of financing falling through. It’s not just first-time home Buyers that may discover obstacles in obtaining a mortgage loan – even 2nd-time or move-up Buyers may have difficulties meeting Underwriting requirements. Under scrutiny is the Borrower’s debt-to-income ratio, credit score, source of funds and more.
Nothing is more excruciating for a home Seller than to be under contract, take their home OFF the market – only to find out that their Buyer has outstanding college loans or IRS payments that prevent them from obtaining a mortgage loan.
Quick close. In Tulsa Oklahoma, we can typically close cash transactions in ten days – versus 30-45 days for real estate transactions involving financing. No more utility payments, no upkeep on the yard – there are multiple advantages to just “being done with it.”
No appraisal worries or appraiser requirements. The value and condition of your home for sale will be under analysis by an Appraiser for any type of real estate transaction involving financing. Particularly with FHA financing, there are health and safety requirements to meet. And nothing pains a Seller more than to find out that the VALUE of their home was appraised under the agreed-upon sales contract price. Ouch.
What is the value of a cash offer to a Tulsa home Seller?
So, what kind of discount should a Buyer be given when they are a ready, willing and able CASH BUYER? That question really needs to be answered on an individual basis, but cash Buyers are going to expect some discount for the value of their cash offer.
Cash is King. And sometimes Queen also.
Home Sellers may choose to hold out for more money and increased net proceeds of their sale. However, the value of a cash offer to a Tulsa home Seller should be carefully considered, as its merits are not always measurable.
If you are interested in selling your home in the greater Tulsa area, please learn more about our listing services and team. We would love to help you sell your home! 918-852-5036
Content written and published by Lori Cain.