The basic process is the same just with no contingincy for a mortgage. You should have a buyer broker to guide you and will need to hgire a real estate attorney or title/closing company to close the transaction for you which includes a title search, completing the HUD and closing the deed.
It is so much easier. No worry that there banks appraisal will come in too low or have to pay so much more in closing costs. You still need to locate the home, negotiate the price with the help of your Realtor, have the inspections, etc. but the process can be so much faster.
Yes, the process is the same except that you won't have any of the issues normally associated with obtaining a mortgage such as mortgage contingency and so on. You will just need to provide proof that you have the funds available to purchase the home.
Kj, Did you end up purchasing a home? I would love to hear how the process went for you. Buying a home with cash ends up costing the buyer much less not only in closing costs/lender fees but also when you then of the interest you would have paid over the years. I hope you found exactly what you were looking for!
Purchasing all cash is a great way to buy property. I have helped many buyers make good decision on purchasing property in all Cash situations. There are a few secrets that can help you make the right decision. Please give me a call if you are not currently working with a Realtor and I will be glad to help. Thanks, Tammy Norman, MidSouth Residential, 901 502-7770 Direct or 901 507-4680 Office.
There is a home going on the market in the next 2 weeks in Arlington. Seller wants a quick sale. It is a 5 bedroom on apx 5 acres...very nice with many amenities...probably list for $325,000 If you want to save some money before it is listed, email me at: firstname.lastname@example.org