Why would a house be listed as cash only?

marti8aJuly 5, 2012

A house listed by a realtor, is listed as is and cash only. Why does it matter to the seller if the buyer gets a mortgage or not? The only thing that comes to my mind is that the house won't qualify because it has something really wrong with it. But I have no idea and no one to ask.

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palimpsest

Right now where I live, you cannot get a mortgage on a house that does not have a working furnace, a kitchen, or at least a 3/4 bath. It could be something like this.

    Bookmark   July 5, 2012 at 5:56PM
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barbcollins

Is it a foreclosure? Many banks will not give a contingency for getting financing.

When we bought our last foreclosure we had to prove that we had the funds available before they would accept the contract.

    Bookmark   July 5, 2012 at 6:21PM
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terriks

It is usually because the agent knows that the house will not qualify for financing for various reasons, as palimpsest said.

    Bookmark   July 5, 2012 at 6:43PM
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marti8a

Not a foreclosure as far as I can tell. I figured it was something like palimpsest mentioned.

    Bookmark   July 5, 2012 at 7:42PM
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