Is a Recession Looming?

[Baron Von Crowder]

a cash buyer's financing wont fall through a matter of hours before closing, as my in laws just had happen.

[Ruffdaddy]

a cash buyer's financing wont fall through a matter of hours before closing, as my in laws just had happen.

It can if that cash buyer is converting stocks into cash, and the sale of said stocks are placed on hold just days before theyre converted due to a lawsuit claming the stock values were done incorrectly during an energy company merger.

Ask me how i know this...

And i guess cash buyers can have a leg up in some situations.

[Gasser64]

Also, we are their largest buyer of their goods.

This is why I think they'll never do shit. They'd be shooting themselves in the foot. Why the hell would you deliberately piss off your best customer?

i just dont think the american people have it in them any more.

Fat, lazy and stupid eventually catches up to you. But I think you'd be surprised if it actually all went south. They'd rise to the challenge. Just like that one thread we had awhile back, that told the real story about the hold the oil companies had on us. Some study done back in the 70's showed that people just started adapting and using less gas. Didn't really get all bent out of shape and raise hell, just starting using less gas. They adapted rather quickly to the ridiculous prices. Which put the fear into a lot of people.

my sister just got beat on a house that she bid $30k over asking by a cash buyer at $10k over asking...

Not sure if I understand this right. She offered 30k over, and they took someone else's offer of only 10k over? Why?

[Strychnine]

Not sure if I understand this right. She offered 30k over, and they took someone else's offer of only 10k over? Why?

Cash buyer, no financing = cut out the 4-6 week wait for a standard closing process. Sometimes time is more important than money.

We are closing on our sale in two weeks. If I could have taken a slight $ hit to get out sooner I would have.

[Gasser64]

Cash buyer, no financing = cut out the 4-6 week wait for a standard closing process. Sometimes time is more important than money.

We are closing on our sale in two weeks. If I could have taken a slight $ hit to get out sooner I would have.

But damn... a 20k hit? Doesn't seem like most people would be up for that.

[Strychnine]

Cash buyers could also be non-realtor deals, saving 3% on the total sale.

[Gasser64]

I don't know shit about the realty process. Maybe you can school me some. A good while back, you may have seen all those commercials from various realty companies, trying their best to convince you that it was a bad idea to "sell it yourself". Must have been a rising fad at the time. Anyway that told me that its most likely a fairly good idea, provided you did all your research.

Any truth to that? Your reply indicated that some people actually do it.

[Strychnine]

Of course they would tell people that. I'm a home sale the buyer's agent makes 3% and the seller's agent makes 3%

[Broncojohnny]

In this market, if you are worried about financing then make some of the earnest money non-refundable. The idiots out there will probably do it.

And cash is always king.

[slow99]

I just tallied up the investments after the bloodbath today - fuckin' ouch.

[Broncojohnny]

I think these days of volatility are just going to get worse as we get close to the end of the Fed meeting in September. If they don't raise rates at all on that day, we will probably have panic buying and it will be the biggest up day of the year for the markets.

[ceyko]

it does if their house requires repair that prevents a bank from loaning on it!

Good points on this post and the previous one. I failed to consider that not all home transactions are the standard sell/buy...etc process that you typically see.

[Broncojohnny]

Another day of plunging stock market action. I wonder when the margin calls start?

[slow99]

Ho Lee Fuk

[matts5.0]

So it's happening?