You’ve heard it all your life: cash is king.
Well, as it turns out, in today’s competitive real estate market, an offer of all cash at closing is a powerful incentive.
FOX 5 real estate expert John Adams says it's all about making offers that are attractive to sellers.
Right now, real estate is in a seller's market where there are too many buyers and not enough sellers. Once a sign goes up, a seller can expect multiple buyers, so it's important to have every advantage you can. Cash in hand makes it so there are no contingencies, which could mean a guaranteed sale.
According to Adams, one in three houses are now selling for cash.
One option for buyers that Adams points out is hybrid lenders where, after being pre-qualified to lease, renters can pick a house for a lender to buy, rent it for to three years, and then buy the house from them.
(Image by ErikaWittlieb from Pixabay)
The bottom line is, if you want to own a home, but can’t quite swing the deal now, look into this new breed of landlord to lender service. It can help put today’s buyer on a level playing field and gives you options that other buyers might never enjoy.