Profile picture for morenabr

what do i need to buy a home cash?

  • August 20 2012 - US
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Answers (11)

Profile picture for JustJoe51
Can a mortgage company give you the cash  up front to be able to pay cash and then  figure it out later or is that something that cant be done. since i keep getting bidded out by all the cash bids .. 4 this week already i lost ..  its crazy  out here ...  actually i saw a few they said were paid cash and   it says FHA  loan  on the sold part.  isnt that  lying .... ??? they might have a friend buying them of the agent. i dont know ..   i check on everything  to see whats going  on ......
  • August 23 2012
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Cash.

And probably more cash.

After you go through all that cash, you'll still need a little more cash.

Ahhhhhhh. All done. Almost. Probably just a bit more cash. A wee bit.
  • August 23 2012
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1. Get a Proof of Funds Letter from your Banker.
2. Choose your Buyer Agent
3. Preview the property with your agent.
4. Run the comparables to determine what you want to offer.
5. Write the offer and have your agent submit it
6. Negotiate price and terms when necessary and be willing to walk away if you can't get a suitable agreement.
7. Your agent should guide you through each of these steps and also the rest to closing.

Buying Cash makes it easy.
  • August 23 2012
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Profile picture for Ofe Polack
You need to find a good buyer agent to help you with the search, then finding comparables prior to writing the offer, lending a hand with the Home Inspection and further negotiations if necessary.  You will also need proof of funds when you present the offer and sign the disclosure documents.  At the end you will need either a closing company or an attorney.  Good luck! 
  • August 21 2012
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Joe, it doesn't seem very fair, and it happens all the time. I think sellers find cash to be an advantage for several reasons. There is often no appraisal contingency that could cause issues, for example an FHA appraiser may ask for significant repairs, and also come in with a low appraisal that could affect the value of the property for six months. Not to mention financing falls through all the time.


I hope you have a good agent who is staying on top of the market and taking advantage of many seller's first look or owner occupancy periods. Good, luck!
  • August 21 2012
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House may seem like everything you've ever wanted, but before you make an offer, take some time to consider a few things beyond the size, style and price. Make sure you are getting information on what you can't able to see,such as nothing to be disclouse. 
  • August 21 2012
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Profile picture for JustJoe51
Seems that way as i keep loosing  my bids to people that have cash ...  not sure what the difference is .  at the end they will get cash from the mortgage company  not sure whats going  on  ...  If i bid 93k and  someone has cash and they bid 93k and one dollar seems they get the house every time ............
  • August 20 2012
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Yes you need to find a home and buy it.  The process is  similar to a financed transaction in that you must get clear title, legal contract. etc. The big advantage is sellers are willing to negotiate more when there will not be an appraisal required and they don't have to help pay closing costs. I have sinvestors I work with that pay cash and it defintely tips the bargaining in your favor
  • August 20 2012
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Most cash buyers are looking for a really good deal. The best way to make sure that happens is to find a good buyer's agent who will stay on top of the market in your price range and be prepared to make an offer as soon as the "right" property becomes available.
  • August 20 2012
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Just the cash and proof of funds.
  • August 20 2012
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If you have cash, you only need to find a home you like. Then buy it.
  • August 20 2012
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