Lately, we’ve been seeing quite a bit of offer fatigue. Buyers are going out into the market, writing a bunch of offers, and not winning any of those homes because it’s a very competitive market. Frequently, they’ll play by the right rules, then another buyer will have an Aunt Betty who loans them a ton of money so they can make a highly competitive cash offer and win the house. How do you compete with Aunt Betty?
In certain situations, you can utilize a company that will act as your Aunt Betty; they’ll buy the house in cash for you, then you’ll use your loan to buy it from them. That helps you go from the bottom of the pile to the top; you won’t have an appraisal or loan contingency, so your home-buying process is fast-forwarded. You’ll shorten the process from four months and 10 offers down to one or two offers.
This option isn’t for everyone, but if you’re thinking this may be a good idea for you or you have any questions, by all means, reach out to us via phone or email. We’d love to tell you more about this excellent strategy.