I would think that the cash buyers offer is written as buyers can close within 14 days of approval. My cash buyers do not usually walk because they do inspections up front and we take large deposits from cash buyers and remove the inspection contingency after they are completed. I have had the problem where we would send over the larger offer with financing and the appraiser brings the value in at the purchase price then the buyer walks and now we send the smaller cash offer over and you know the rest of the story. I had Aurora refuse a higher offer that was financing because the buyer was using an out of state lender he found on the internet. The negotiator told me to switch lenders to a local lender which we did and they sent the approval and we closed.
Thanks to all of you for your generous advice. Sellers chose cash offer and buyer agreed to contribute cash toward deficiency if needed. Your input is invaluable! Thanks again. Wendy
Congratulations Wendy, nice work!