This is a YouTube video titled "Cash Offer Program" created in May 2022, presenting a detailed explanation of a mortgage-related program designed to help homebuyers compete with cash buyers by effectively becoming cash buyers themselves through a financing and underwriting process. The content is a monologue or presentation-style explanation without multiple speakers or conversational elements.
Are you having issues with getting your offer accepted while shopping for a new home? Are cash buyers coming in and winning the bidding war on the property that you want? We've put a plan together to help you. We could turn you into a cash buyer yourself. Yeah, I know that sounds crazy, but let me explain. We can review your financing in the early stages, run it through underwriting, and back you in cash. Here's how that works. You get fully reviewed up front by underwriting. They look at your application and all of your documents to confirm your max cash backed limit. Then you find your new home. Once you have your new home in sight, send the address over to us. We send it to underwriting so they can run their valuation tools to determine exactly how much on that property they can back cash for. Now you have a cover letter and offer addendum that you can present with your offer. This shows the sellers you are a cash buyer yourself and that your offer is guaranteed to close on time. This also waives contingencies on your offer, which is a huge thing in a competitive market. No financing contingency, no appraisal contingency up to the max valuation determined for that property. Now, we still do our normal process of finding you your best financing. We shop over 200 wholesale banks, lenders, investors. To guarantee your best deal, we proceed through the loan process with the plan to complete your loan by the time of the original closing date. If the financing is completed by the closing date, then the cash offer was able to stay on the sideline, but it was there to bolster the offer. There's a 1% fee for so on a $300,000 house, there'd be a $3,000 charge added to closing costs in exchange for making the offer stand out. This goes directly to the program. Gown Mortgages doesn't collect a dime. If the financing needs more time, then the cash offers hops in, buys the housing cash from the seller, allowing the process to still go smoothly and prevent any risk of losing the house. Your financing is still worked on. We will complete the same great loan for you. Then you technically buy the house from the cash offers program. In this scenario, the fee goes from 1 to 2% for most states. However, Missouri is only 1.75% of the. If the cash offers program does hop in, buy the house first, then sells to you. We cover the closing costs and the initial closing from the seller, so the buyer only has to worry about their standard closing costs one time, even though there's technically two closings. And if needed, we can even set it up to where you move in with the Cash Offers program, buying the property, they will rent it back to you at a fair prorated amount that can be negotiated. The landscape of the housing market has been rapidly changing, and finally there's a program that's keeping up with it. McGowan Mortgages and cash Offers is here to help you get a leg up on the competition. Let us know how we can help you with this today.
