Here’s what you need to know about this new program for homebuyers.
With so many homes selling well above asking price, large amounts of nonrefundable earnest money being offered, and contingencies being removed left and right, competing in this market can be frustrating as a homebuyer.
The one thing many buyers can’t compete with is the cash offer. Cash offers have a huge advantage in this market. If there are multiple offers on a property, a cash offer is usually the most attractive one for a seller.
How do you compete with this? There is an emerging model that could help. You can have an investor make a cash offer on a home for you, you move in, then you refinance and pay the investor back. This makes your offer a legitimate cash offer and makes you a much stronger buyer in the eyes of a seller.
If you have any questions about this program or anything else related to real estate, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon.