Cash is king when buying a home in 2021
You’ve heard it all your life: cash is king.
Well, as it turns out, in today’s competitive real estate market, an offer of all cash at closing is a powerful incentive.
FOX 5 real estate expert John Adams says it's all about making offers that are attractive to sellers.
Right now, real estate is in a seller's market where there are too many buyers and not enough sellers. Once a sign goes up, a seller can expect multiple buyers, so it's important to have every advantage you can. Cash in hand makes it so there are no contingencies, which could mean a guaranteed sale.
According to Adams, one in three houses are now selling for cash.
One option for buyers that Adams points out is hybrid lenders where, after being pre-qualified to lease, renters can pick a house for a lender to buy, rent it for to three years, and then buy the house from them.
(Image by ErikaWittlieb from Pixabay)
Some examples of this option are Divvy Homes, Trio Homes, and Ribbon.
The bottom line is, if you want to own a home, but can’t quite swing the deal now, look into this new breed of landlord to lender service. It can help put today’s buyer on a level playing field and gives you options that other buyers might never enjoy.
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