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First of all the bank does not care if you are an "All Cash offer" or have a Loan. The bottom line for getting an offer accepted is $$$$. I have seen offers accepted just because they are $500.00 over an all cash offer. Asset mangers are "Bean Counters" plain and simple, bottom line. In fact I have seen where if you are paying "All Cash" it can be a detriment. Meaning they will ask that you remove the appraisal contingency, will not complete "any repairs including termite etc." and also demand close of escrow in 15 days or less. Seems strange but it is a reality here in So. Cal.
We are in a whole new era of buying, the counter offers are written by the banks/servicers lawyers and are air tight, and the banks take "As Is" very seriously. If there is mold so what, health and safety issues too bad, deal with it. So my point is maybe you should hang on to that green stuff and get a loan! Most loan guidelines will require a termite clearance and Health & Safety issues addressed and the asset mangers know this. All Cash is not the King it once was. Low ball offers are pretty much filed in the trash can, unless there are house issues no lender would finance, then you have shot, better get a good contractor estimate.
Home Value's with today's technology is a science, and they've got it down to the dollar. The asset mangers know the values and it is their job to get every penny. Just a little food for thought for todays buyers!
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