The Down Payment
The All-Cash Offer
Depending on the type of mortgage, the buyer must make a down payment on the house and the size of that down payment can affect the strength of the offer. Your chief concern as a seller is for the transaction to close, meaning the buyer’s mortgage must be approved.
The more cash the buyer outs down, the more likely the lender is to approve their loan. That’s why an all- cash offer is ideal for both parties. As always, having a sales contract with fewer contingencies means there are fewer ways for the deal to fall through.
The Closing Date
The settlement, or “closing,” is the day when both parties sign the final paperwork and make the sale official. Typically, offer to close takes between 30 and 60 days.
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