Why All Cash Offer

Sellers love <a href="https://megacashforhomes.com">all-cash offers</a> for a number of reasons, but for most, it all boils down to a quicker process that contains fewer uncertainties. Many home sellers may even choose a cash offer over a higher offer that involves conventional or FHA loan financing.
Why? Because a cash offer that includes proof of funds is simply more likely to close, take less time, and involve fewer obstacles.
Let's look at a few potential stumbling blocks that plague so many conventional home sales, starting with the appraisal. Most lenders require the home in question to undergo appraisal before closing. If the appraisal value comes in under the loan amount, the lender can cancel the loan unless:
The seller agrees to lower the price, or
The buyer is willing and able to increase the down payment
Where do appraisal values come from? Usually, an appraiser finds three to six similar properties, known as comparable sales. The appraiser then analyzes the value of these properties, comparing them to the home in question.
If your home has been updated, the appraiser may adjust the value upward. If your home doesn't have as many features as the comparable sales, the appraiser may adjust your home's value downward.
The appraisal process can be nerve-racking for buyer and seller alike, especially given that a low appraisal can tank a deal. For the home seller, this means starting the selling procedure all over again.