It seemed to be the key was not just the amount of offer. Contents of the offer is also important. These days, due to the recent development of bank industry sub-prime loan issues which was said to trigger world wide recession, banks were careful to approve loans. In more plain English, I could say that you would not be approved for your loan application unless you have secured very good job and income.
Then, what about cash? You always can use cash for payment. I have seen several competing cash offers. Cash payment will be welcomed and well appreciated. But, owner banks of property are also watching if your cash offers are real. Because some can offer in cash, but still apply for banks for housing loan. It would be key if you can prove you have cash and you can use it. It looks to me that to be the winning bid, you need to have reasonably high amount of offer and good solid contents of payment capability.
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