Should A Seller Consider the Buyer’s Type of Financing When Accepting an Offer?
Absolutely Yes! Some of the most popular home purchase financings are Conventional, FHA, VA and Cash. Financing types can have a positive or negative closing impact based on the ever changing situations and conditions. As a listing agent with the Carl Anderson Real Estate Team, I’ll need to inform the owner that an appraisal from each of these financing types could come in at different values and a FHA appraisal stays tied to the home for 120 days. It’s always a good idea to notify the seller that FHA and VA loans will require the home to be in acceptable condition. Conventional financing, can be more lenient on home conditions and may not require the home to have the necessary items installed in the home as FHA and VA Financing. Last but not least, cash would be the best way to go most realtors would inform the owner / seller that an all cash purchase is the strongest.
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