In many hot housing markets, bidding wars have been breaking out on a regular basis and some house hunters are receiving beaten out time and again.
But it’s not forever about who has the most money. Sellers will believe lower offers if it means less hassle. But first you contain to beat out all of those other bidders. Here’s how you can win over a seller and get the house you want.
Pay with cash is best way to get a seller’s notice is with cold hard cash. In fact, all-cash sales have become very common, representing more than 40% of recent sales. Ever since the housing meltdown, getting a mortgage has become a longer and more difficult process. Securing a loan can take weeks and there is eternally the chance it will fall through.
With all-cash offers, the buyer is qualified, and they won’t have to wait through a long, drawn-out loan approval procedure. Depending on the market and the seller’s situation,they may even believe a lower offer just because it’s in all cash.
With pre-underwriting, lenders take the pre-approval process a step further by reviewing all of the income and benefit documentation that they would typically need to approve a mortgage.
More information: Jeff Adams Scam Avoidance Instructions to Invest in Foreclosures