I hear you, and feel your pain.
CASH buyers are making financed buyers shake in their boots. Not to mention us buyer's agents. Talk about working hard:)
I am having my buyers avoid REO sales, as these are just the type of sales investors are seeking for a quick close and flip deal.
There are listings out there that stipulate owner occupancy for a period of time, these will not appeal to investors, so financed buyers should have their agents focus like a laser beam on these types of listings.
Just be patient and stay engaged in the home buying process. If you have a hard working buyer's agent on your side, you will get a home. Be prepared to write several offers before you get one accepted.
Much success to YOU!!!
Kawain Payne, Realtor
Prudential California Realty
Don't fret, if you are working with a hard working Realtor, I am sure that you will secure something eventually. Hang in there and keep trying.
All the best,
Coldwell Banker Star Realty
BRE Lic #01456982
However, if you do have the cash, I've worked with investors who make an all cash-offer and show proof of funds, but end up financing it at COE in the same number of days. The Seller gets the same amount if it was cash or financed so everyone is happy.
Some people just offer 5-10% above asking IF they absolutely must have the property. to beat a cash offer. It is tough out there.
Another recommendation would also be to have the agent you are working with present the offers personally to the listing agent and assure the agent that you the buyer and the agent are in for the long term and will available during the entire transaction.
One more nugget would be to study the current market conditions in the neighborhood your planning the purchase, once the property is identified than write the offer at listing price or higher depending on the circumstances at the same time making sure that you safe guard against any appraisal issues unless they are negotiated prior to. I wish the best of luck, if you have any additional questions please feel free to ask, the answer to your questions are free.
California Real Estate Broker
US NAVY VETERAN
GRI, E-PRO, S.F.R. , C.H.S. , H.P.S. , C.M.H.S. , S.C.M.S.D.C. , V.O.S.B.
"Andres Can Help"
17291 Irvine Blvd
Tustin, CA 92780
Such is life. It may be harsh to some who are not as privileged as those who have cash at their disposal.
Are you saying someone or some entity should take away the right of hard working people who have been able to save or work for enough money to pay cash; and invest it in Real Estate for their future?
That would be just wrong, in my opinion.
If you are havig trouble getting your offers accepted you need to find a Realtor who will work smarter and get an offer accepted. You will also need to be patient as there are many people offering on the same homes. You will get one, you just need to hang in there with the right agent/company.
Prudential CA Realty
We are currently closing in about 17 days on our pre-approved transaction
Orange County real Estate Group
Either Cash or Financed Buyers have an equal opportunity to make a realistic offer on any property. Sometimes a property will be advertised as "Cash Only" likely because it would not qualify for financing for any number of reasons. The Listing Agent will know whether the property will qualify for financing or not.
Cash Buyers typically offer a lower amount than financed buyers so therefore financed Buyers may have an advantage.
This program guarantees to close the transaction on time, or the borrower gets $795 refunded to them. (we have never had to pay that money out so far)! We are the 27th largest non-depository Mortgage Bank in the United States, so we are closing our fair share of transactions.
We are closing these loans so quickly that we feel confident that we can help buyers write a contract that will stand out from the others; from reduced escrow days to the one of a kind "Keys on Time" Certificate that we provide to submit with the offer, and stand out from the crowd of offers.
Contact me if you want to learn more?
Senior Loan Consultant
All California Mortgage
A Division of APMC
P: (415) 464-8261
C: (415) 378-7508
F: (415) 464-2367
NMLS 304353 - DRE 01380701