Sellers are inclined to go with the highest-priced offer when they receive more than one. But, price is only one factor to consider. An offer with a lower purchase price but a large down payment and a quicker close could be best. The terms of a purchase offer can make or break a deal, particularly given today's stringent mortgage qualification requirements. Buyers with large cash down payments usually have an easier time qualifying for a mortgage than do low-cash-down buyers. However, today even large-cash-down buyers need to qualify. Unlike in 2006, lenders now require verification of employment, a great credit record, and one or two acceptable property appraisals. A large cash down payment can salvage a transaction that might otherwise fall apart if the property appraises for l...
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