Home Buying in Amanda>Question Details

Lori, Home Buyer in West Virginia

A buyer has Cash for property. How much is added on to the Listing price and points and closing? (For the buyer not wanting to obtain a mortgage.)

Asked by Lori, West Virginia Fri Apr 29, 2011

(Per say a buyer that plans to remodel a home and plans on actual purchase price not rising above $50,000.00 then what roughly would be the highest listing price for this buyer to check into?)

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2
Lori,

Why would you want to penalize the buyer for electing to pay cash for their purpose? From a seller's perspective, a cash purchase is a huge benefit because there is no financial contingency. Since contingencies can potentially lead to problems that prevent transaction from occuring, it's recommended to minimize them when possible.

Good luck,

Bill
0 votes Thank Flag Link Sat Apr 30, 2011
Points are something you pay when purchasing a mortgage, so there are no points if you are paying cash, there will be closing cost, but this is easy to find out, just ask the agent working with you or the listing agent for the property! Figure several hundred dollars on the low side and as much as one or two thousand on the other side. But! you are a buyer in a buyer's market so negotiate and you may get the seller to pay all the closing costs! Good Luck!
0 votes Thank Flag Link Fri Apr 29, 2011
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