How much quicker would it be to buy a foreclosure with cash versus obtaining a mortgage?

Asked by Trulia Brooklyn, Brooklyn, NY Mon May 20, 2013

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Steve Parsons, Agent, Salisbury, MD
Mon May 20, 2013
Absolutely! Cash is king...in any transaction, whether foreclosure, short sale, etc. Also there's no waiting when it comes to cash. You'll have to wait for a bank to give you a pre-approval letter before they'll give you a mortgage, which could take awhile.
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