I am a realtor in Colorado. I'm representing a buyer who made a reasonable offer on a property of a deceased seller. Its a good location but the property had 17 cats (not exaggerating) and it has cat piss and **** everywhere. The estate wants to sell the property as fast as possible and theyre considering selling it at a much lower price to a cash buyer (my buyer is financed with a 95% loan. I personally thought about buying the property cash, but since my buyer was interested, I backed off.
Now because we're possibly going to lose this deal to a cash buyer, would there be a problem with me offering cash to close in 10 days and turning around and selling it to my buyer? He would be entirely on board with the logistics of the purchase. I know this is a very unusual situation, so any guidance would be helpful.
No problem as long as your buyer is on board.
I'd run this by your broker to make sure you're not breaking any office rules, but I am also licensed in CO and see no issue with it. (I'm not an employing broker, though.)