Is there a benefit to paying cash for your home purchase in New Hampshire?
29 Jan 2012 Leave a Comment
Is there a benefit to paying cash for your home purchase in New Hampshire?
There use to be a saying in real estate “It’s all cash in the end”.
That excuse use to be legitimate in a seller’s market.
Guess what, as of 2008, it is no longer a seller’s market.
Since it has become a buyer’s market cash buyers are becoming more and more attractive to sellers.
Some of the reasons that cash is king now in real estate are as follows:
Lenders are tougher and stricter on their conditions and qualification process for home buyers.
Appraisals are getting tougher all the time and very often it gets challenging to get the home to appraise for full purchase price.
With home loans many buyers look for the sellers to contribute towards buyer closing costs and but not so with cash sales.
A buyer that is financing can qualify one week and 3 weeks later could get a job challenge or finance issue that could knock them out of qualification and then no sale.
So it is best to take the cash offer over a financed offer if it is strong enough.
This is the short version of why cash trumps finance in NH Real Estate.
So weather you are buying or selling in Concord NH, Manchester NH, Nashua NH, Hudson NH, Merrimack NH, Derry NH or Londonderry NH these guidelines apply.
For additional info or to discuss with a sales professional go to: www.dongoudreau.com
For the smart phone friendly site go to www.dongoudreau.mobi
