2 ms·
A cash offer will still fall apart if the appraisal comes in too low, I would think. Or does the term "cash offer" imply that no appraisal will be done?
by SoftTalker 11mo ago
A cash offer will still fall apart if the appraisal comes in too low, I would think. Or does the term "cash offer" imply that no appraisal will be done?
- abosley 11mo agoAppraisals are generally done to ensure that the loan guarantor will be able to recover their investment if the party taking the loan defaults. Therefore, cash offers don't perform appraisals. Cash offers lower risk for the seller and provide fastest time to close the transaction.
- creaghpatr 11mo agoProbably the latter, the appraisal is typically mandated by the bank issuing the mortgage.
- lotsofpulp 11mo agoThere is no purpose for a cash buyer to pay an appraiser to appraise a house. They have already decided to pay the price, so who cares what an appraiser thinks?
- deleted 11mo ago[deleted]