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In Philadelphia, do cash buyers always win or do 20%-down-buyers have a chance?

Asked by Trulia Philadelphia, Philadelphia, PA Fri May 17, 2013

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A cash offer with other things being equal will come above a offer with a mortgage.With that being said,having 20% down gives you priority over most offers in todays marketplace.
Feel free to call me with any other questions that you may have.
Don Sherman-SRES
Century21 Advantage Gold-Castor
0 votes Thank Flag Link Fri May 17, 2013
It depends most cash offers that are accepted are done so because there is less risk of the deal not going to settlement due to a change in the credit report,or mortgage problem at the last it also depends on the Seller and difference in amount being offered because cash offers can be lower but have less contingencies. I always like to see a higher escrow deposits to ensure that a cash buyer is not just going to walk and cut their losses when a low escrow is in place and try to use that as a tool to force the Buyer to make changes or delay settlement. All factors and their possible out comes need to be factored in to the decision

Philip J. Cunningham Sr
V.I.P. Realty Corporation
7942 Bustleton Ave
Philadelphia,PA 19152
Web Reference:
0 votes Thank Flag Link Fri May 17, 2013
It all depends on the property and the conditions of the offer. In some situations the property might not be finance-able but in most cases it depends on what the sellers wants and what offer best fits the needs of the seller. Yes cash is appealing since it is a faster settlement date but it is not always the best offer.

Your Real Estate Professional,
Robert Travers
PA Lic No: RS316370

Keller Williams Main Line Realty
720 W. Lancaster Ave
Bryn Mawr Pa 19010
Mobile: (267)257-4051
Ph: (610)520-6599
Of: (610)520-0100
Fax: (610)520-1835

0 votes Thank Flag Link Fri May 17, 2013
Depends on the price differential...settlement date...commercial or residential...a lot of factors...if you have good credit and qualify...on a owner occupied sfd you will get the mortgage...having said that a 30 day no contingency cash deal has its attractions...but isn't for the faint of heart!
0 votes Thank Flag Link Fri May 17, 2013
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