Siblings Christie and Jason Nemetz and their mother, Christelle Nemetz, decided this spring that they wanted to buy a home together. With the housing market so hot, he thought that offering cash might be the only way to get one.
Nemetz pooled his funds, which included money from the sale of homes they already lived in, and placed a bid near a house where Christie and Christel lived in South Dakota. His real estate agent told him there were seven other offers. The sellers chose Nemetzes partly because they offered cash for the house, which went for over $500,000. This means they didn’t have to wait for a lender to approve a mortgage.