Today we’re excited to announce ‘Torii Cash Offers.’ 

Now with Torii, even if you’re getting a mortgage, you can submit a cash offer on a home — at zero cost to you. We know how competitive the housing market is. As a new home buyer, you deserve every leg up! Cash offers consistently win over offers with a traditional mortgage contingency. In fact, research published by Redfin last March found offering all cash improves a home buyer’s chance of winning a bidding war by 290%!

Torii Cash Offers Make Buyers More Competitive in Today’s Hot Housing Market

The Torii Cash Offers program helps home buyers place all-cash offers — even if they don’t already have that cash on hand. We do this by partnering with our excellent banking client (Leadoff) to back your offer with our cash. All you have to do is meet some standard criteria:

• You must apply for a conventional mortgage 
• There must be no home sale contingency 
• The listing must be subject to a title examination
• The home purchase price must be less than $1.5 million Your offer must include a 10% deposit
• Your offer price on the home must be equal to or lesser than value calculated by our banking client Leadoff’s Automated Valuation Model
• Get underwritten by one of Torii’s lender partners

Win That Bidding War with Up-Front Underwriting and a Torii Cash Offer

“Up-Front Underwriting” is where prospective home buyers submit an application and all of their documentation up front to their lender. They do so as if they had an accepted offer on the property. An underwriter then reviews these files and issues an actual mortgage approval w/ a commitment letter. You can present this commitment to a listing agent in lieu of a preapproval letter.

Getting fully underwritten has multiple advantages including fast closing times — as quickly as 14 days! It also demonstrates to the seller what an organized buyer you are. Up-front underwriting allows you to show the seller that you are fully prepared to make the deal as smooth as possible. It provides additional protections from uncertainties that commonly pop up when waiving the mortgage contingency. 

By getting fully underwritten and submitting a Torii Cash Offer, you have an immense advantage when there are multiple offers on a home. 

Learn more about cash offers by reaching out to the Torii team here.