Why are Cash Offers Significantly Better than Lending offers?
I get the general idea of why a cash offer is better, it's quicker, more secure, probably won't fall through in escrow, can display POF.
But other than that, if you are underwritten and already approved for a loan amount, what's the huge difference if the seller still is going to get the same amount of money in the end, say $2M from a cash offer versus $2M from a person borrowing. If it's between a borrowing offer or no offer at all, Id think they'd still want to take the borrowing offer. It's not like a loan gets paid to the seller in installments over time or can be reversed like a credit card charge, once it's approved, the seller gets the full amount and it's sold, right?