All-cash mortgage are behavioral?

Buy It With Cash, Mortgage It Later

Anthony Corbisiero wanted a quick sale on his studio pied-à-terre in West Chelsea, as he planned to use a portion of the proceeds for his daughter’s looming college expenses. So he and his wife, Julie, who live in Bay Ridge, Brooklyn, were thrilled when three bids emerged within a week. Two were all cash. “The other buyer preferred to do it with financing,” said Mr. Corbisiero, an independent stock trader. “But why should I wait for them to get a mortgage?” The sale closed in March, just two months after the unit was listed. ….[READ]

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