The Windermere Real Estate Market is good...real good. Properties are selling and inventory is shrinking. The proverbial "supply and demand" is making multiple offers a common occurrence. It is not unusual to get many offers on a nice home within a day or two, so sellers are getting to pick and choose which offer they like best. Cash still talks loudest in Windermere Home Buying.
Here is why a CASH offer is still "King" in Windermere...
1. A CASH offer is usually a solid offer for the seller, so the seller can make real plans to move. No financing to fall through at the last minute and no delays over an underwriter requesting a yellow copy of a bank statement from 5 years ago years, or the DNA of the mother-in-law who is co-signing.
2. No appraisal requirement. Even though the buyer may elect to have an appraisal contingency, it is typically not a deal breaker if it comes in a bit short. Currently, 30% of appraisals in Central Florida are short and typically a deal breaker for financing, particular when buyers are stretching just to qualify.
3. A few deficiencies on an inspection report will not send a CASH buyer into a tailspin. A financed buyer may not have extra funds for any repairs or remodel. A cash buyer typically has extra funds for issues that come up.
Although a low cash offer will not trump a better financed offer...if things are almost the same the CASH will talk the loudest in Windermere Home Buying.
Copyright @ Buyers Broker of Florida 2012 "Why CASH still talks loudest in Windermere Home Buying"