E298 Is a Cash Buyer Better for Probate Real Estate?

<p>Which offer for probate real estate is better: an experienced investor cash buyer, or an individual financed offer that’s supposedly $80,000 more?</p> <p>In a recent case, turns out the individual offer was actually more like $30,000 (~3.5%) higher, plus tons of headaches and delays.</p> <h2>Nitpicked during buyer’s inspection</h2> <p><img class="aligncenter size-medium wp-image-43123" src= "https://anthonyspark.com/wp-content/uploads/2022/12/Nitpicked-during-buyers-inspection-300x169.jpg" alt="Nitpicked during buyer’s inspection" width="300" height= "169" /></p> <p>Individual buyers heavily nitpick during inspections. Unlike an investor, the individual buyer is the one who will live in the house. He has a vision of how everything should be for his new home.</p> <p>This inspection showed some problems, some legitimate and some were very cosmetic. Note that this sale was an as-is contract. It’s an estate sale; take it or leave it!</p> <p>At the end of the day, the buyer demanded about $20,000 worth of repairs and buyer credits. For some items, he wanted a credit so he could pay to fix it himself. The repairs that he demanded from us added months of delay to the process.</p> <p>Months equals money out of the estate. Not to mention all the problems that can arise from leaving a home vacant for months. If the roof leaks or a pipe bursts during that time, it is still our problem since the house hasn’t officially been transferred.</p> <h2>Cash buyers will inherit problems</h2> <p><img class="aligncenter size-medium wp-image-43124" src= "https://anthonyspark.com/wp-content/uploads/2022/12/Cash-buyers-will-inherit-problems-300x169.jpg" alt="Cash buyers will inherit problems" width="300" height= "169" /></p> <p>Cash buyers only care about big problems, except ones that affect title (such as boundary line issues or environmental problems).</p> <p>But cash buyers are willing to deal with cosmetic problems. Why? Because they usually tear down and rebuild, meaning they will end up fixing those problems anyway. What about l