Home Buying in Group 14621>Question Details

Cliff Kitson, Home Buyer in Rochester, NY

Will a credit score in the 500s affect me buying a house for cash in group 14621?

Asked by Cliff Kitson, Rochester, NY Fri Feb 1, 2013

My dad wants to help me buy a house as my credit score is not good.

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7
Jean Evans’ answer
You may want to have your dad co-sign for you if needed. If you are paying cash then your credit score should not be an issue. Let me sit down with you and your dad to figure out where you stand and see what is available in your price range. I can be reached at:

Dream Catcher Real Estate & Properties

585-410-8891 or Email: jevans@DCREproperties.com
0 votes Thank Flag Link Sat Feb 2, 2013
If this is a cash deal, then you credit score should not matter.
0 votes Thank Flag Link Sat Feb 23, 2013
I would recommend you rent for a while and work with a lender to get your credit score up so you can afford a house on your own so you don't have to rely on your dad.
0 votes Thank Flag Link Fri Feb 1, 2013
No Cliff it won't affect the purchase of a home due to you not needing a mortgage. there are a number of things that I would suggest you do when buying a home cash. It's very important to protect yourself and your investment. Contact an agent to represent you and your best interest to determine your options. It's a great question and if you need any additional assistance please feel free to call or text me at 727-0616.
0 votes Thank Flag Link Fri Feb 1, 2013
Cliff,
Thank you for the question. As an agent that works daily with cash investors and within the RE/MAX Custom Property management division, the simple answer is NO. All the seller and agent want to see is that you have proof of funds to cover the purchase offer and any closing costs. A bank will not be involved and neither will it be appraised by a bank.
I would highly recommend you get an inspection completed and cover yourself from any hidden dangers. Also if you plan on using it as an investment property you will want to make sure there's a C of O and check into any possible violations with the city of rochester. There are other items you should be aware of and I can review them with you over the phone if you are interested. You can reach me via cell/text at (585) 236-7780 or email me directly at BradNewton@Remax.net.

I would be glad to assist you and help you along the way. RE/MAX Custom can also handle the property management end of it as well if you need.

Brad Newton
Certified Buyer Representative
585-236-7780
BradNewton@Remax.net
http://www.Brad-Newton.com
RE/MAX Custom.
0 votes Thank Flag Link Fri Feb 1, 2013
Cliff , not as long as you have the cash . My number for assistance is 317-4444 Reinhardt Brucker -Realtor
0 votes Thank Flag Link Fri Feb 1, 2013
Hi Cliff,

If you are buying a house with cash, and not getting a mortgage, then your credit score should not be a factor.

If I can be of any assistance as you look to purchase a home, I would be glad to help. Feel free to contact me.

Gary Wolyn
Licensed Real Estate Agent
Keller Williams Realty
585-766-7099
GaryWolyn@kw.com
http://www.GaryWolyn.com
0 votes Thank Flag Link Fri Feb 1, 2013
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