Feb
28
2022
Companies Now Offering to Make Cash Offers on Homes for the Public
Prospective homebuyers who keep losing out on homes because of a lack of a cash offer could have a new option. The concept is called shared appreciation, where some companies are offering to put a cash offer in for a homebuyer if they cannot, and then get paid back later. The company will typically place the cash offer for the buyer after signing the agreement on the next day. “If you’re just brand new starting into this and you’re looking to buy in Denver where your average sales price is close to $750,000, the down payment is going to be the challenge,” said Kelly Moye, CAR spokesperson. “So, I actually think this is a really good option for people to say, ‘look, I’d rather get into the market and not rent for the next 10 years.’”