We found it pretty easy… I guess I do live in one of the cheapest towns in the region though.
Comment on [deleted]
dan@upvote.au 4 weeks agoIt’s hard in nice/desirable areas because the rich people make all-cash offers, and sellers prefer that over people that will get a mortgage.
Korhaka@sopuli.xyz 4 weeks ago
CookieOfFortune@lemmy.world 4 weeks ago
Why does that matter to the seller? They get that amount in cash anyways. I guess the risk if the mortgage falls through? But then they keep the earnest money.
CannonFodder@lemmy.world 4 weeks ago
Any offer that relies on a mortgage will have a clause indicating it is conditional on the mortgage coming through. A buyer would be insane not to do this unless they have the cash anyway. Even if it is a preapproved mortgage, there’s always a chance that something can go wrong.
Fredselfish@lemmy.world 4 weeks ago
On top of that it takes 30 to 45 days to close. Where cash they close right away.
Why the rich landlords are buying up all the homes in the area. I got lucky to buy my home.
CookieOfFortune@lemmy.world 4 weeks ago
But you have to put up your earnest cash within a few days.
dan@upvote.au 4 weeks ago
Yeah, there’s no risk of the mortgage falling through, and not as much dealing with banks. I don’t really know the specifics but it was something I had to be aware of when buying my house. Luckily I was buying while it was a buyers market a few years ago, so prices were lower, fewer people were looking, and there weren’t any competing all-cash offers.