Things to Consider When Buying a Home with Cash
Posted by West + Main Homes on
If you're in the market for a new home and you have the ability to buy with cash, the odds for finding your dream home may be in your favor.
But before you head to the bank, consider both the pros and the cons of skipping the mortgage.
YOU ENTICE THE SELLER.
Sellers love cash buyers, and will favor them in comparison to an offer with a loan attached. This means that buying with cash gives you leverage in the negotiation process.
YOU CAN SKIP THE INTEREST.
While a home purchase is already an investment, buying one flat out is an even larger one. This is because you save on mortgage interest that is usually paid over the life of the home loan – interest that could amount to anywhere between several thousand dollars to hundreds of…
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