“When we sold our condo in UC a couple of years ago, we had two offers. Our agent suggested we take the lower offer because the buyer had more solid financing. We took our agents advice and everything worked out. But we always wondered how much difference does the financing really make?”
***ANSWER:
I don’t know the particulars of your case, but it sounds like you made the right decision.
You’re obviously better off closing on a solid, lower (but still acceptable) offer than going 30 days in escrow with a higher offer, only to fall out because your buyer didn’t qualify.
And in these days of constantly shifting finance markets, it’s not uncommon that the buyer’s loan has disappeared since he talked with his lender. Or the lender himself doesn’t even know the program he’s qualifying clients isn’t even available any more.
BTW, that’s just one more reason to use a great lender like I do, and not some random nice person who happens to be in the loan business at the moment.
