If you were the seller, which offer would you submit?

Short Sale listed at 515k.  Two offers on the table:

 

499k cash, close in 14 days

 

525k conventional.

 

1st loan: Nationstar

 

2nd loan: GreenTree

 

Which would you choose if you were the seller?

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Permalink Reply by William F Griffin Jr on July 3, 2012 at 7:02am

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.  

Permalink Reply by Wendy Martin on July 3, 2012 at 12:20pm

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

Permalink Reply by Joe Pringle Sr on July 3, 2012 at 5:43pm

Congratulations Wendy, nice work!

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