{"id":3490,"date":"2021-07-28T13:43:00","date_gmt":"2021-07-28T18:43:00","guid":{"rendered":"https:\/\/1reason.com\/re\/homie-cash-allows-buyers-to-make-all-cash-offers-on-homes\/3490\/"},"modified":"2021-07-29T08:43:00","modified_gmt":"2021-07-29T13:43:00","slug":"homie-cash-allows-buyers-to-make-all-cash-offers-on-homes","status":"publish","type":"post","link":"https:\/\/1reason.com\/re\/homie-cash-allows-buyers-to-make-all-cash-offers-on-homes\/3490\/","title":{"rendered":"Homie Cash\u2122\u00a0Allows Buyers To Make All-Cash Offers On Homes"},"content":{"rendered":"
Today, Homie Loans announced Homie Cash\u2122<\/u><\/a>, a new program that allows buyers to make all-cash offers to drastically increase their chances of winning the perfect home. <\/p>\n

Cash offers are 3X more likely to win in a competitive bidding war, making it one of the most effective strategies to improve a buyer\u2019s likelihood of their offer being accepted.<\/p>\n

“I’ve watched too many of our customers, from first time home buyers to empty nesters, lose out on the home they really want because of investors or cash buyers. We saw the need, so we started Homie Cash\u2122to give buyers a leg up on the competition,\u201d said Johnny Hanna, Co-Founder and CEO. \u201cBy upgrading your offer to a cash offer, Homie Cash\u2122provides peace of mind knowing you can make a cash offer as soon as you find a home you really want.”<\/p>\n

On average, there are five or more offers made on every home in Utah and Colorado. In Utah<\/u><\/a>, the number of cash offers increased by 58% percent from the previous year in June. Cash offers represented 17% of transactions, compared to 10% the year before. In Colorado, cash offers (as a percentage of total transactions) have increased year over year in the Denver metro area, jumping from 11.5% of all transactions in June 2020 to 20.2% of all transactions in June 2021<\/u><\/a>.<\/p>\n

An early Homie Cash\u2122buyer looked at more than 20 homes and made three traditional offers well over asking price over the course of a month and found no success. Then they started using Homie Cash\u2122and the first cash offer they made was accepted. They were still concerned that their offer would be passed over, but making a cash offer gave them the competitive advantage they needed to stand out among many offers and land the home they really wanted. <\/p>\n

\u201cHomie Cash\u2122levels the playing field by allowing buyers that don\u2019t have hundreds of thousands of dollars in their bank accounts to become cash buyers and compete,\u201d said Hanna. \u201cWe\u2019re putting power back into the hands of buyers who have been disadvantaged in this intensely competitive market.\u201d<\/p>\n

Participating in Homie Cash\u2122is simple. Buyers complete a short application to qualify for the program. Once the application is submitted, Homie Loans will pre-approve buyers to ensure they are eligible for a conforming mortgage before sending an offer on a property. Once approved they work with their Homie Real Estate Agent to make all-cash offers with Homie funds.<\/p>\n

Quick Facts About Homie Cash\u2122:<\/p>\n