One of my buyers recently lost out on a bidding war even though they were the highest bidder and were very qualified.
They could actually afford properties $100,000 more expensive as was stated on their pre-approval letter.
Why did this happen?
The other offer was a full cash offer.
No mortgages to worry about, no appraisals, no mortgage contingencies for the seller to worry about.
..Interesting
Information provided by:
Kevin Dowd
Realtor
Prudential Castle Point Realty
203 Washington Street
Hoboken, NJ
Cell: 201-606-5957
Email: info@hobokenjerseycity.com
Search MLS listings for free at: www.hobokenjerseycity.com
Has the market stabilized?
Get up-to-the-minute market reports:
www.hobokenpropertyvalue.com
www.jerseycitypropertyvalues.com
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