Have you been looking to buy a home but find it hard to compete with cash offers in today’s market? If so, you’re not alone. Many buyers are struggling to find solutions to this problem, but luckily, you have options.
I’m working with AMC Mortgage, who is offering a cash-backed program that will allow you to make a cash offer even though you’re getting financing. Additionally, if you have a house to sell with this program, you don’t need a home sale contingency. This program is a win-win for buyers and sellers. Sellers don’t have to worry about accepting lower cash-only offers or appraisal requirements, and buyers will be able to compete with cash offers without actually having to submit one.
So how does this work? The bank is saying that if the buyer can’t get financing in time for closing, they will buy the house from the seller for the agreed-upon price on the agreed-upon closing date. You, as the buyer, would rent it back from them until you close sometime within the following six months. This way, you can compete in today’s hot market, pay the same price, and close at your convenience, while still only paying one set of closing costs.
“This program is a win-win for buyers and sellers.”
This cash-backed program is perfect for buyers who need to sell first, buyers who need to move out of their current house before they put it on the market, buyers who are having a hard time winning in multiple-offer situations due to financing contingencies, first-time buyers, and people who are building new construction.
If you think this program would work for you, give me a call, and I’ll connect you with the perfect person to tell you more about the guidelines and see if it’s a fit. If you have any other questions about real estate, call, text, or email me. I’d love to help you get started on your path to homeownership today.
