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Is a bigger down payment better for seller?

Is a bigger down payment better for the seller? If so why? Why would the down payment make any difference as long as they're getting paid?

Asked By Brian | Deerfield, IL | 165 views | Buying | 5 months ago

Answer(1)

Novice

8 Answers

Robert Kieffer

RE/MAX Results

(25)

The larger down payment makes for a stronger buyer. If you are comparing a person that can barley qualify for a loan and someone who has 20% down, the likelihood that you will close is much higher with the person in a better financial situation. Think about if a small live changing event occurred during the buying process. Can the person with only 3% down afford to pay for what just happened and still close with you?