Posts from July 1st, 2021

Real Estate 2021 – Buyers and Lenders Get Creative

  As the current real estate market stays competitive, multiple offer situations are extremely common. Realtors are seeing homeowners receive multiple offers on their property, with several different types of financing involved with the offers. We are typically seeing cash, conventional financing, FHA financing, VA financing and contingency offers (buyers need to sell their current home before purchasing their new home). The cash offers normally win these multiple offer situations as they can offer a quicker closing with little to no risk being taken on by the seller. Appraisals are typically waived with cash offers. This is important as properties are not appraising. Buyers are overpaying to secure housing in this market with a limited supply of listings and high demand. 

  So, what can the buyers that require financing do to be competitive in this market? Many buyers are waiving their d...

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