Relocate to Wisconsin : My Buyers are Paying Cash & they want an Answer NOW !

My Buyers are Paying Cash & they want an Answer NOW !

    The Selling agent continued…”I know it says in MLS that the response time is 48 hours but my Buyers have lost out on quite a few homes and they don’t want to lose this one.” Well...golly gee Mr. Selling Agent…the cash you just mentioned was not even a full price offer…and the 48 hours is in MLS as cashdictated by the Seller. Do you Buyers have Proof of Funds ? “ “Well No….they can in a day or two but they want an answer right now.” “Uh Huh….well as my Mother used to say…’You know where theice cubesy want ice cubes….' “We should …bend the rules…oh not…and sell them the property with no valid proof that they can afford it….Would THEY do that ? “ I queried….. Silence at the other end of the phone.

Sally K. & David L. Hanson, ABR, CDPE, CSS, e-Pro,ILHM, REDS


home worth iconemail iconhome searchLinked In  facebook

Comment balloon 22 commentsSally K. & David L. Hanson • April 08 2018 08:25PM

Comments

Good response.  The seller has set the stage for 48 hours and buyer agents should be sure that clients know the script and are bringing the best performance to the stage - !!

Posted by Maria Sapio, Real Estate Agent- Carlisle, PA. Mariasapio.com (Berkshire Hathaway Homesale Realty) 2 months ago

Good response.  The seller has set the stage for 48 hours and buyer agents should be sure that clients know the script and are bringing the best performance to the stage - !!

Posted by Maria Sapio, Real Estate Agent- Carlisle, PA. Mariasapio.com (Berkshire Hathaway Homesale Realty) 2 months ago

Good morning Sally K. & David L. Hanson,

Isn't it amazing what cash buyers will expect? I had 5 offers on my newest listing over the week-end. 2 were cash buyers. One sent proof of funds and a wonderful over the top offer and the other cash buyer never produced proof of funds.! All those with conventional offers had pre-approval letters. I guess the one cash buyer thought they were special!

Posted by Dorie Dillard, Serving Buyers & Sellers in NW Austin Real Estate (Coldwell Banker United Realtors® ~ 512.346.1799) 2 months ago

Thanks for sharing this experience.

Poorly prepared prospects are more likely to miss purchase opportunities.

Posted by Roy Kelley, Roy and Dolores Kelley Photographs (Realty Group Referrals) 2 months ago

Good morning, Sally K. & David L. Hanson (Sally) don't you just love the demands from a buyer's agent who doesn't have all documentation in hand.... everyone's a billionaire until they need to pony up...

Posted by Barbara Todaro, "Franklin MA Homes" (RE/MAX Executive Realty ) 2 months ago

I know the urgency on part of buyer. But they do have to follow the time to respond as provided in MLS unless seller wants to wave it

Posted by Sham Reddy, CRS (H E R Realty, Dayton, OH) 2 months ago

As I often say, Sally, life is hard and it's even harder when you're stupid (which is very hard to fix)!

Posted by Nina Hollander, Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor (RE/MAX Executive | Charlotte, NC) 2 months ago

Sally, I was chuckling as I read your post, recently had the same thing happen. The amount of cash offers that I've seen without proof of funds this year is mind-boggling. 

Posted by Amanda S. Davidson, Alexandria Virginia Homes For Sale (Amanda Davidson Real Estate Group) 2 months ago

Good morning,  Sally and David.  "Some people " huh?  How about some sugar coating to sweeten the sour approach of that selling agent? 

Posted by Michael Jacobs, Los Angeles Pasadena Area Real Estate 818.516.4393 (Coldwell Banker Residential Brokerage) 2 months ago

Good morning Sally and David.  As soon as the agent mentioned that they've lost in a number of offers, I knew there was going to be some issues.

Posted by Gabe Sanders, Stuart Florida Real Estate (Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales) 2 months ago

Happy Monday Morning,  You have to wonder about people and there cash buyers, they want the world but not willing to play by the rules.

 

Posted by Will Hamm, "Where There's a Will, There's a Way!" (Hamm Homes) 2 months ago

Sally, stick to your guns, if they want an answer, they should be completely prepared - proof of funds included.

Posted by Joan Cox, Denver Real Estate - Selling One Home at a Time (Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373) 2 months ago

Too funny, they should have at least come strong enough to warrant a quick response.

Posted by Brian England, MBA, GRI, REALTOR® Real Estate in East Valley AZ (Arizona Focus Realty) 2 months ago

Sally,

Proof of funds is key!  What is that agent thinking in the first place?  Funny how people feel entitled to having the rules adjusted for them.  A

Posted by Ron and Alexandra Seigel, Luxury Real Estate Branding, Marketing & Strategy (Napa Consultants) 2 months ago

I find the cash customer always wants a discount. Proof of funds is always a factor Sally K. & David L. Hanson 

Posted by Paul S. Henderson, REALTOR®,CRS,, Tacoma Washington Agent/Broker & Market Authority! (RE/MAX Professionals.) 2 months ago

Good morning Sally and David - as they say, Talk is cheap, show me the money!

Posted by Grant Schneider, Your Coach Helping You Create Successful Outcomes (Performance Development Strategies) 2 months ago

I want my ice cubes in the freezer.  And I expect most people do.

Posted by Jay Markanich, Home Inspector - servicing all Northern Virginia (Jay Markanich Real Estate Inspections, LLC) 2 months ago

Sally and David cash maybe King, but he who has the cash is not necessarily the King in command.

Posted by George Souto, Your Connecticut Mortgage Expert (George Souto NMLS #65149 FHA, CHFA, VA Mortgages) 2 months ago

Morning Sally.

Want to see me dig in, just demand something like what you mentioned.  The battle is on.

Posted by James Dray, Exceptional Agents, Outstanding Results (Fathom Realty AR LLC) 2 months ago

It's nice to be in a market where "cash is King" and being so demanding because of that cliche', and again, I wish I was taller, too!!  Right now, the "supply and demand" economics is King ... and strong offers can appear in many ways, financing / cash ... do what is right for the Seller!!!  Always a good motto!

Posted by Dan Hopper, Denver Realtor / Author / Advocate/Short Sale (Keller Williams Realty Downtown LLC) 2 months ago

Without proof of funds . . . ARE THEY really cash buyers . . . or buyers at all?
Isn't it funny, though? It's ALWAYS the demanding ones who are least qualified.
You nailed it with your answer.
And geeeeee . . . I wonder why they have 'lost out' on other properties? Could it be that . . . they're doing this Alpha Dog thing each time with no proof of funds? Hahahahahah!
Just get the dang POF, seriously people.
This is not rocket science. Do it on your phone!

Posted by Candice A. Donofrio, 928-201-4BHC (4242) call/text (Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker) about 1 month ago

I am glad to hear you got them to shut their mouth with your very simple and direct question. Funny how people think rules do not apply to them.

Posted by J.R. Schloemer, CRS (Kentucky Select Properties) about 1 month ago

Participate