Startup Firms Help Home Buyers Win Bidding Wars With All-Cash Offers
Wall Street Journal, Sept. 21, 2021–Nicole Friedman (subscription)
In today’s frenetic housing market, buyers who take out mortgages are struggling to compete with those putting up all cash. Cash offers are more attractive because there is less chance the deal will fall through or be delayed due to financing issues. Now, a number of startups are offering programs to help level the playing field. Some of these companies front buyers the cash to buy their homes outright, while others buy houses directly on a buyer’s behalf and then sell them to the buyer. The programs often target homeowners who need to buy a house before selling their current one.