In addition to what everyone has said about avoiding the financing issues, here in Miami one wants to avoid an appraisal since the banks are discounting properties in Miami from 30 to 40 percent so the appraisals come in way below any reasonable asking price. Our buyer got our townhouse for $30,000 less than the asking price (we expected to come down about $15,000 from the beginning) because it is a cash purchase and they will wait until our house in TV is finished before closing on ours --which saves us rental and storage expenses. If financing had been involved our townhouse would probably have been appraised at another 10-15,000 less than we sold the house for!
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