Wellington Short Sales Where Cash Is King!
Does having an ALL CASH offer on a Wellington short sale listing give you an advantage?
Yes, it does!
Cash is King and there are many reasons why having an ALL CASH buyer or if you are the buyer, an ALL CASH offer on a short sale listing in Wellington Florida. As long as the cash offer is a reasonable offer there are benefits to having ALL CASH to close.
1. When you have an ALL CASH offer we do not have to submit an approval letter from a lender to the seller’s short sale lender. You do have to have a statement from your financial institution or stock brokerage that you do have the cash to make the purchase, that is called a ‘verification of funds’. This will save a little time in the negotiating process.
2. When you have an ALL CASH offer on a Florida short sale listing you are the boss of your cash and you don’t have a mortgage banker telling you what you can do with your cash. Therefore, should a short sale seller not have the funds to pay off his HOA fees or his lender needs a cash contribution and he does not have all of it, a cash buyer can help out.
3. When you have an ALL CASH offer in many situations with many lenders we can get them to move faster on an approval. We have been able to get approvals with ALL CASH offers from certain banks in 3 days or less! It is all about having Wellington short sale agents who really know how to negotiate the terms and who know who to go to at the seller’s lender to get the answer.
4. When you have an ALL CASH offer the seller’s short sale lender will expect you to close quickly once they send us the approval letter. This is great because if the seller is close to foreclosure you will be able to close and the seller won’t get foreclosed on. Many times buyers who get loans need extensions because their lenders are not ready in the time the seller give to them to close.
To find out more about Wellington Short Sale Agents go to: http://wellingtonfloridashortsales.com