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Updated over 4 years ago on . Most recent reply

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Shareef Carey
  • Rental Property Investor
  • Las Vegas, NV
1
Votes |
2
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Seller only wants a cash offer

Shareef Carey
  • Rental Property Investor
  • Las Vegas, NV
Posted

Property for sell that seemed a little over priced. It was contingent for three months then went back on the MLS. Told my agent to make an offer for what they're asking. They let him know that the property appraisal will come in less then the asking price. They will only take cash offers. I don't know if I'm being foolish but I don't think what they're asking for is crazy. Due to the size, location, an renovations. I have a high credit score an initially wanted to use a VA loan to house hack. Now I just want to get some other financing ideals.

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369
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406
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Doug Pintarch
  • Rental Property Investor
  • Harrisburg, PA
406
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369
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Doug Pintarch
  • Rental Property Investor
  • Harrisburg, PA
Replied

If I had something for sale right now I would absolutely do whatever I could to start a bidding war, and you can have it inspected by NASA in clean suits and I wouldn't fix a damned thing.  Total sellers market and if you don't like my price please step aside, the guy behind you is waving a check!   I would hope a few buyers got involved in an emotional "I will win at all costs" fight...those are the best!    Capitalism in it's purest form.

You, @Shareef Carey , cannot do that here. (Or anywhere else you are thinking of investing).  Don't get emotional about it, if you have to sit and be patient for a little while longer, do it.    Like @Mindy Jensen said above me, if it won't appraise it ain't a deal.  (For YOU - for a home buyer they may have to slug it out!!)

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