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Why would a house be listed as cash only?

Posted by marti8a (My Page) on
Thu, Jul 5, 12 at 17:08

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.


Follow-Up Postings:

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RE: Why would a house be listed as cash only?

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.


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RE: Why would a house be listed as cash only?

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.


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RE: Why would a house be listed as cash only?

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


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RE: Why would a house be listed as cash only?

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


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