I found a house that I absolutely love and I would like to be in it and somewhat settled before christmas. So I was wondering if i pay cash for it will it help things move along faster?
2007-10-13 19:10:19 · 4 answers · asked by Lady D 2 in Business & Finance ➔ Renting & Real Estate
It would definitely speed it up. As long as there are no problems on the sellers end.
What holds up loans is usually . Financing ( they require proof of certain documents, alot of lenders are going out of business and turning down business:( I should know I work for one who is not doing any loans:( , Housing inspections. appraisal issues, etc..
You will also be in a nice situation:)
2007-10-13 19:23:26 · answer #1 · answered by sunshine24 3 · 0⤊ 0⤋
yes but i would tell you if you want to buy this house and dont need to get financing have a full professional inspection done for this house!
having cash doesnt force you to have these inspections done but to protect your interests i highly recomend you do this. Also have a full pest inspection done as well. this can help you avoid issues with major high price fixes you may find after you buy!
a inspection looks at the house as a whole" foundation, structure,roof, heat, air condition (if applacable) and makes sure there are no engineering issues that could cost you plenty!
the pest inspection looks for wood distroying organisms that could be lurking ther as well
this way a few months after you move into your dream home all bases have been covered and wont have to shell out huge amounts of moeny to fix a problem you didnt see while falling in love with the home!
Inspections only take a few days to complete but insist on having one done and pic the inspector yourself! the cost is minimal maybe a 100- 150 dollars. find someone you can trust and pay him yourself! some would say let the seller pay him but do you really want the seller paying the inspector. you can always get the seller to credit you the cost of the inspections! do this and you will sleep soundly in your dream home!
2007-10-14 00:34:25 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Paying cash not only speeds up the buying process, you also save money NOT paying lender fees such as ALTA policies, and appraisals, points, doc prep fees etc.
I would make sure I got a good inspection INCLUDING TERMITE.
If you want to be in by Christmas you could most likely do it with a loan but paying cash is much easier.
Good Luck
Terry S.
http://www.Welcome2Arizona.com
2007-10-14 09:30:44 · answer #3 · answered by Terry S 5 · 0⤊ 0⤋
Yes, since you wouldn't have to wait for loan approval or processing.
2007-10-13 19:45:20 · answer #4 · answered by Judy 7 · 0⤊ 0⤋