Contracts
What is an 'all cash' offer in a Nevada real estate transaction and how does it affect the seller?
AAn offer where the buyer pays in physical currency
BAn offer with no financing contingency where the buyer demonstrates sufficient liquid funds to close — sellers often prefer these because they eliminate financing risk✓ Correct
CAn offer requiring no earnest money
DAn offer made by a cash-only investor who cannot use loans
Explanation
An all-cash offer means the buyer has sufficient funds to purchase without a loan. This eliminates the financing contingency and appraisal contingency risk for the seller, making it very attractive in competitive Nevada markets.
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Key Terms to Know
Earnest Money
A deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
AppraisalA professional estimate of a property's market value prepared by a licensed or certified appraiser.
Right of First RefusalA contractual right giving a party the opportunity to match any offer received before the owner can accept it from a third party.
Math Concepts
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