When you hear that someone is offering cash to purchase a house, what does that actually mean? The DiMora Team are real estate experts in the Northville and Novi neighborhoods and we know it simply means that a buyer has the funds available to buy the house already in their bank and can pay for it without securing a mortgage loan. From the seller’s point of view, it doesn’t make much difference whether the cash comes from the buyer’s personal bank account or from a mortgage loan. The associated contingencies, which come with additional risks for the seller, are where you’ll find most key distinctions between a cash offer and an offer backed by a mortgage loan. Check out below to see what sold in Brooklane Ridge in May 2020:
16680 Brooklane Blvd., Northville: 5 bedrooms, 4.2 bathrooms, 3,838 sq. feet, 3 car garage, Sold Price: $660,000
Brooklane Ridge Home Sold
May 2020
Keep in mind that the number of cash offers floating around fluctuates with the market and at different price points. For more information on Brooklane Ridge, or similar Northville or Novi neighborhoods such as Timber Ridge, Willowbrook Farms and Cascades of Northville, contact The DiMora Team today at 248-505-7728 or jim@dimora.com.