Having your financing in order can save you money when buying a home.
Whenever you’re shopping for a home – whether you plan on living in it or using it as an investment property – you can usually get a better price when you have cash in hand. Why? Three reasons:
• A bird in the hand is worth a half dozen in the bush. Smart homeowners would rather sell to someone who is more likely to close on the deal rather than a buyer who might not be able to secure financing. This gives the sellers confidence to move forward with their purchase.
• Distressed homeowners may need to sell in a hurry. With cash, you can buy in a hurry, without having to wait for a lender to approve your loan.
• If you want to bid on a property at a foreclosure sale, you will need a certified check for the opening bid amount or at least enough to cover the deposit (usually about 10 percent). You have very little time to come up with the rest of the money – hours or days, not weeks or months.
Contributed by Paulette ZuenaPhone: (978) 482-3900 | Contact Paulette
Free Andover Property Search | Featured Listings
You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.
