3 Benefits of Paying Cash for a Property


Buying a new home is exciting. If you’re currently researching the best way to move forward with your purchase, you may have seen discussion around buying your property outright by paying cash. If you’re in a position to do so, this is a step you should seriously consider. House sellers love cash buyers; it could place you firmly at the top of a list of prospective buyers, even if you’re not the first to make an offer or even the person who makes the highest offer. What to know more? Here are three reasons why cash is king in the world of real estate.

1. Speeds Up the Process

A mortgage application takes time. It can involve scheduling a property evaluation and waiting for an appraisal to come back. You could lose up to two weeks while you’re waiting for this process to complete — and that’s assuming the house value matches the asking price. If the value is less, you have to start negotiations all over again. You don’t know who else is doing the same thing you are, but maybe two or three days sooner. Paying in cash allows you to act swiftly and independently.

2. More Reassurance for the Seller

Finance agreements fall through all the time. There are so many different dependencies that, often, a seller can’t consider a final offer as definite until the day contracts are signed. Cash buyers real estate can instill a lot more confidence. They have no external parties involved with the power to affect their purchase, and they tend to do a lot more due diligence work upfront, so by the time they make the offer, theirs is a much more considered purchase.

3. Allows Room for Negotiation

Sellers are often more willing to negotiate with a cash buyer. A cash payment gives you greater power within the purchase, and you can often set move dates, haggle on price, or agree on certain home improvement projects before buying.

Cash buying isn’t for everyone. However, if you’re in a financial position to think about it, certainly do. You may walk away with a bargain.

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Geek Upd8 - Law Reporter: 3 Benefits of Paying Cash for a Property
3 Benefits of Paying Cash for a Property
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