You are selling a flip you just fixed. Open House is going on and there are two families standing in the living room talking price with you. One of them needs to go and get a mortgage. Other one is a cash buyer. Why are both of them getting the same deal? The cash buyers can get the inspection done and close within 10 days. The FHA mortgage buyer is looking at 30 days minimum.
I am not saying that you should gift the house to the cash buyer but one price for two different buyers does not make any sense. When you are buying REO's - which offer do you think Asset Managers love the most? Cash or Mortgages?
Cash buyers are back in every Michigan City. Thanks to the low low prices in every city in Michigan and mom and dad helping the kiddies out start a new life (without debt) - whole lot of buyers are walking in to closings with cashier checks instead of a mortgage packet.
Show you cash buyers your appreciation by giving them a little extra something: a discount, a flat screen TV, an appliance warranty from Sears (only $400) - whatever that would make them know that you will be happy if they bought that cash over to your flip.
Cash buyers are here in Michigan. Buying homes everyday. Question is why are we treating them just like every other buyer? And what you are going to do to attract a horde of them to your own flip?
