can you buy a house for cash outright?
2006-10-09 09:06:59 · 41 answers · asked by nano 1 in Business & Finance ➔ Renting & Real Estate
You could but I would read all the links provided first. Don't forget to click on property investor line in the first link. There are benefits to buying a home with cash too. Good luck.
2006-10-09 09:27:00 · answer #1 · answered by sam 7 · 0⤊ 0⤋
Yes. It makes perfect sense that it's possible to buy a house with cash. If you have enough cash for the house, of course you can buy it outright. However, you may possibly be investigated. People may be suspicious since you have so much cash.
2006-10-09 09:08:34 · answer #2 · answered by عبد الله (ドラゴン) 5 · 0⤊ 0⤋
Of course you can buy a house for cash outright. There is not a single thing FOR SALE you couldn't buy for cash outright. This is a stupid argument and you should tell your friend to go have has head examined.
2006-10-09 09:24:20 · answer #3 · answered by Rckets 7 · 0⤊ 0⤋
I don't think there's a law AGAINST buying a house in cash. But be prepared for your bank/building society/lawyer will be pissed cos they won't be making any money out of you!!
On a more serious note, you will have to explain just how you came by such a substantial amount of cash (and I'm guessing that on average it'd be a few hundred grand)
2006-10-09 09:15:51 · answer #4 · answered by Anonymous · 0⤊ 0⤋
I have sold a house to a woman who paid cash. It's very easy, you cut out all the credit checks and loan process time. So, yes, if you have the cash, you can pay for the house in full. You still have to have title of the property changed, and things like that.
2006-10-09 09:15:36 · answer #5 · answered by buggsnme2 4 · 1⤊ 0⤋
Of course you can. It would be just like buying a car for cash. However, you would recieve a clear deed rather than a title.
I would hire an attorney to make sure you are getting a free and clear deed to the property. You would not want to be stuck w/a property that has outstanding liens on it.
2006-10-09 10:23:05 · answer #6 · answered by BACI 2 · 0⤊ 0⤋
sure, why not? anything can be purchased with cash. you may run into some irs/dea issues if you suddenly pull 200K from under your mattress, but if you have the cash in the bank, and get teh bank to cut a cashiers check to the seller, the house is yours. you will have to get a lawyer to do the paperwork if you are not going through a real estate agent, but it is no problem.
2006-10-09 09:10:19 · answer #7 · answered by forjj 5 · 0⤊ 0⤋
Dude, you can buy ANYTHING with cash up front. Of course, lenders don't like that because they don't make any interest off of you. However, the person selling doesn't care. He or she is getting the money in one lump sum either way-from a bank or a person.
2006-10-09 09:11:39 · answer #8 · answered by Anonymous · 0⤊ 0⤋
Yes of course, as long as both parties agree and the paper work is properly signed etc. If the vendor wants cash though then I would automatically be suspicious, wouldn't you?
2006-10-09 09:31:32 · answer #9 · answered by Gary H 3 · 0⤊ 0⤋
If you are buying the freehold then yes. If it is a leasehold then you wouldn't be buying it outright because someone else would still own the land it is standing on.
2006-10-09 09:10:23 · answer #10 · answered by Tertia 6 · 0⤊ 0⤋