I am unable to pay cash to purchase the house

[Nikki O.]

Hi, I am the buyer with cash payment under the current terms (no conventional financing option). With the pandemic and my personal finances deeply impacted I may no longer have the means to pay for the house in cash. I would have to opt out onto conventional financing which will not only be breaching the contract but also take 60 days to close. I understand this "change of payment method" is frowned upon in the industry but given the current circumstance I am wondering how many people are having to go through similar situation? Let's say, even if the seller has a backup offer from another buyer s/he would have to have cold cash or go with the financing etc, so wouldn't it make sense for the seller to work with us rather than starting new with another buyer? If you could share your insights that would be much appreciated.