Finally sold to a cash buyer after months of flaky finance guys
Listed my duplex near Akron in March and had three offers fall through because of loan hiccups. The fourth buyer came in with a cash offer that was $8k under asking, I almost said no out of pride. But my realtor showed me their proof of funds from a local credit union and closing happened in 11 days flat. I even got to keep the washer and dryer that I was ready to throw in as a sweetener. Anyone else had a cash buyer turn out smoother than the financed deals?
Did the seller pay for a title search or did the credit union handle all that since it was cash? The part people skip over with cash deals is that the money source matters more than the speed. A cash offer backed by a local credit union is basically a rich person with paperwork, which is why it closed clean. But I've seen "cash" buyers who were really just using hard money loans at 12% and they fall apart same as finance guys when the terms shift. The $8k you gave up was probably cheaper than another two months of carrying costs, taxes, and insurance on a place sitting empty. You came out ahead and you know it.