Cash Vrs Mortgage On Short Sale
We put a cash offer on the house we really like, the listing broker submited two offers to the bank, is that common?(one is ours). She said that the price on both offers are very close, the other offer is mortgage but if they they offer a higher price the bank may sell it to them. We called the selling agent and told her that we would match the price of the other offer. Do you think the bank will consider selling it to us because the price is matched and we pay cash. We can close the deal as soon as they accept the offer?. They have all the proof that we have the funds.
thanks for your help
Cash is king, stick with your offer.
It also sounds like you are being hustled by the agent.
Comment by cutepup — December 2, 2009 @ 10:33 pm
This listing agent is completely out of line, and should be reported to her managing broker, as well as to the state’s real estate commission. She has NO business telling you ANYTHING about the other offer, other than that it exists.
Stop to think about this. If she agrees to raise your offer to match the other one, what makes you think she won’t call the OTHER party and tell the details of YOUR offer, to convince them to make THEIR offer higher ?
Comment by Mark C — December 2, 2009 @ 10:52 pm