Cash Offers through our Mortgage Partners

If you think you would like to make cash offers, ShopProp does partner with the companies below to enable clients to make cash offers on homes.

https://www.flyhomesmortgage.com/?aba=true 

https://www.homelight.com/home-loans 

Of course, cash is ideal but does not make that much of a difference to home sellers. Let me explain why:

We have clients who release 5%, 10%, and as much as 20% earnest money to sellers upon mutual acceptance. This means the seller is receiving 5%-10%  and as much as 20% of their home purchase price in 1-2days. 

What do we mean it makes little difference?

If you are a seller and you are looking at two offers. 

1 is all cash and closes in two weeks

2 is a buyer that is releasing all Contingencies and 10%-20% earnest money to the seller upon mutual acceptance and is 10k higher. Which offer are you going to take?

The one that closes in two weeks or the one that is closing in 4 weeks and 10k higher?

The 1st is all cash and I get the money in 2 weeks. The second I get 10%-20% in 2 days and an extra 10k and if the client does not close in 30 days I get to sell my property again.

See most sellers will understand that the buyer will not walk away from large earnest money so the worth of a cash offer is not that much to a seller.  It is worth something but you should calculate the cost and ask yourself if it is worth the cost of getting the loan versus a conventional loan and making a higher offer.

 Our clients that are ready to buy will beat and do beat cash offers all the time because they can offer more money.  See if the price was 1k higher maybe they would take the cash offer, but if it is 10k-20k higher offer 2 will win out.

Most experienced agents do not consider cash loans from companies that put these types of loans as real cash but bridge loans. Which is what they are they are.

Your offer will be accepted because it ends up being the best offer to the seller. What nets them the most. Getting the cash in 2 weeks early is only half a mortgage payment to a seller.