Asked by CoffeeGirl, Grand Haven, MI • Sun Apr 21, 2013
I'm curious...Is there anything that gives you an "edge" when making an offer? (This is in regards to conventional sales, as well as HUD/FannieMae/Bank Owned, if there's any differences.)
For example, say there's a house that is listed for $92,500. Only two offers come in (let's assume that the owner is not holding out for more offers). One party offers $91,000, with 20% cash down and the rest financed (pre-approved), the other offers $89,500, but has 60% cash money to put down and the rest financed (also pre-approved). Does the higher bid always win out, or would it make a difference that the other party, while offering less, has more cash money to work with?
Also, does any other factor play into what bid gets preferential treatment?
Real Estate in Holland
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