by Phil Hoover, Real Estate Broker

First-Time Buyers Competing With Investors

Listings in the lower price ranges are likely to sell to either a first-time buyer or an investor.

The challenge for first-time buyers, when competing with an investor for a property, is that the investor is often an all-cash buyer.

While all sales are ultimately all cash to the seller, the investor’s all-cash offer can be more attractive to the seller because it removes doubt about loan qualification and appraisal, and can often provide a faster closing.

Further, first-time buyers often need the seller’s help paying some of their closing costs, which most investors do not require.

First-time buyers often find it difficult to compete with all-cash investor offers.

 

October 23rd, 2012 Posted in Inside Real Estate Print This Post Print This Post

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