Financing in 46392>Question Details

rldusek, Home Buyer in Wheatfield, IN

Is it a good idea to offer a cash deal as a bargaining tool. can you later refinance your house to get some of that cash back out?

Asked by rldusek, Wheatfield, IN Fri Jan 25, 2013

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The 2 Mortgage Guys’ answer
Cash could definitely give you some bargaining power and speed up the process from accepted offer to keys in hand. Closing costs are higher for refinancing that they are for purchasing the home initially. You will also have to pay for all of the title work fees since whereas with a purchase loan the seller can cover some of the costs.

All is all, you should weigh out your initial bargaining power savings vs. the additional costs of refinancing and loss of interest, charges for pulling out the cash to purchase without financing. If you need help with financing, we're right here in Indiana would love the opportunity to assist you. You can learn more about us at

The 2 Mortgage Guys
0 votes Thank Flag Link Sat Jan 26, 2013
If you have the cash, you should definitely consider using it to your advantage. Especially in a competitive market environment, a cash offer may be your only chance to win a deal. Yes, just like with any property, you can refinance later, if you qualify. Depending on the lender, that could be either a 3 or 6 month seasoning period after your cash purchase.
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0 votes Thank Flag Link Sat Jan 26, 2013
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