Ocala Real Estate Talk

This is an update to my very popular Highest and Best Offer post.

I found a really nice house for buyers I was working with for several weeks. After making our offer the seller came back and asked for the highest and best offer. I gave my buyers recent sold comps that showed the asking price was very aggressive. That combined with the fact that this foreclosed home had never been lived in led the buyers to make an offer $10,000- above the asking price. The listing agent came back the next day to say that the bank had accepted a cash offer.

The actual sale price of a house can’t be determined until closing. Agents never reveal the pending price. That would place the seller at a possible disadvantage with the next buyer should the deal fall apart.

I will publish an update to this little story in a few weeks. The moral to this story is that cash talks. A cash sale has no finance contingency and can close faster than financing. Banks like a sure thing.