In Scottsdale's current market, are cash buyers favored, or do sizable down payments have a shot?

Asked by Trulia Boston, Boston, MA Mon May 20, 2013

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gdifilippo, , Cranston, RI
Wed Nov 6, 2013
I am a Senior Mortgage Specialist with a National Lender. I recently had a similar situation where my client was Pre-Approved for FHA financing, with only 3.5% down, and had put in an offer on a property that already had a cash offer in place. Knowing that the cash buyer was an investor, and planned on using the property as a rental and also the fact that we could close within 30 days ended up swaying the sellers to accept my clients offer. Although cash is always strong, having a solid Pre-Approval for financing can be just as solid. Please feel free to contact me through my profile with any questions or assistance.
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Kevin Vitali, Agent, Tewksbury, MA
Tue Nov 5, 2013
There are always other terms that are considered as well. If you are putting down a sizable chunk of change and have a good pre-approval letter, I personally don't think the strictly cash is advantaged and I tell my clients that. But also have your buyer's agent drop a call to the listing agent to see if there is an ideal closing date or other terms that can make a difference.

In any event keep your offers clean. More contingencies and more requests clutter up the negotiations.
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Territory.c…, Agent, MA,
Tue Jul 9, 2013
Size-able down payments absolutely have a shot against cash buyer's. Winning bids are coming down to price (significantly over ask) and terms (non-contingent deals).

Territory Real Estate
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Heath Coker, Agent, Falmouth, MA
Fri May 24, 2013
Hmmm, a Scottsdale question in the MA section.
In general, cash buyers can be easier from a financing point of view, but may negotiate the price harder.
A borrowing buyer with a small LTV may still need an appraisal if the value is questionable.
Then there are the other contingencies, negotiated price, and dates to consider.

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Rafael Herna…, Agent, Roslindale, MA
Mon May 20, 2013
Both ways are good. It matters on the details of the offer and any contingencies it may have and how good the buyer is.
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