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.

Thank you for reporting this comment. Undo
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
Thank you for reporting this comment. Undo
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
Thank you for reporting this comment. Undo
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
Thank you for reporting this comment. Undo
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
Sign Up to comment
More Discussions
Driving A U-Haul, Towing A Vehicle Transporter
Well after all the looking and reading we have decided...
splais
escrow account for a repair
We received an offer on our house! The house is priced...
karin_2015
What qualifies an offer as a "low ball"?
Hello! Im on the house hunting side of things now! I...
karin_2015
How to Flip. Remodel doubles price of house
The prices are San Francisco values, but it's a terrific...
sushipup1
How soon is "too soon" to select a realtor?
Not planning to sell until about this time next year....
lori_inthenw_gw
© 2015 Houzz Inc. Houzz® The new way to design your home™