Home Buying in Palm Desert>Question Details

lauerwendi, Home Buyer in Palm Desert, CA

Do you have to go in with cash or can you do financing? I am preapproved to close in 25 days.

Asked by lauerwendi, Palm Desert, CA Sat Sep 29, 2012

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Hi lauerwendi,

If you have preapproved financing, sellers will accept that - you should submit a copy of your preapproval letter with your offer. You will need some cash for earnest money deposit, down payment, closing costs, etc. However, if the seller receives an all cash offer and it's comparable to yours, they will most likely accept the all cash offer due to the fact there will be no loan contingency.

Shanna Rogers
SR Realty
0 votes Thank Flag Link Sat Sep 29, 2012
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