Want a Sarasota Condo? You'll Need Cash

Although lenders and brokers will tell you differently, it is becoming increasingly obvious that if you want to purchase a condo, you will need to be a cash buyer.

In the last several months, we have watched prospective buyers place their hopes in a lending system that promised a condo financing package, only to be left with nothing at the end of the day. While there may be a few programs out there, the rules are so stringent that everyday people are not eligible.

This of course has far reaching implications not only for buyers, but sellers of condominiums. The pool of prospective buyers shrinks considerably when the financing disappears, and sellers are beginning to consider seller financing as an alternative.

Buyers with cash are holding the power card in the Sarasota condominium real estate market.