How to compete against a cash buyer

Posted by Bonnie Martin Designated Broker on Tuesday, November 12th, 2013 at 5:37pm.

moneyhouse_oleg-doroshin_450realestate.msn.com - In many real estate markets, there's a lot of talk about cash buyers. These buyers have a reputation for swooping in and "stealing" homes out from under other buyers, simply because someone with cash doesn't need a loan. Regular buyers relying on credit are often intimidated by what appears to be a "lose-lose" situation. They assume that if they need a loan, they can't compete. 

The truth is, someone buying a home with credit can still compete against cash buyers and win. Do you have a 20 percent down payment? Are you well employed? Do you have cash reserves in addition to your down payment? Do you have very little debt? Do you have good credit? If so, your purchase should be as bulletproof as a cash buyer's.

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