Can I pay cash, or is it mandatory for me to take out a mortgage and pay the bank in order to buy a home?

Asked by JC. Mitchell & Family, New York, NY Fri Feb 8, 2013

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9
Christopher…, Agent, Camp Hill, PA
Sat Jun 15, 2013
Everybody with the exception of a lender loves a cash deal. Hope this helps. Best of luck to you.
0 votes
Eric Feifer, Agent, Forty Fort, PA
Sat Jun 15, 2013
You can buy a home with cash. A seller would prefer this since there is little to no risk of the financing not working out. At the closing you would most likely be required to bring a cashier's or certified check. I'm not aware of any title company or attorney that would be willing to accept a suitcase filled with cash for the purchase.
0 votes
SharonJ, Agent, Alpha, NJ
Fri Jun 14, 2013
Cash is king. If you have cash, you will have more negotiating power with the seller than someone who will have to get a mortgage. This also means a quicker closing.
0 votes
Mary Phelps, Agent, Allentown, PA
Wed Mar 6, 2013
Banks actually prefer cash over financing.
It is much faster for them to close the deal.
0 votes
Nathan Guttm…, Agent, Allentown, PA
Fri Feb 8, 2013
JC, I think we spoke before about rentals, right? You can absolutely pay cash for anything you want to buy. Call me and we can discuss. If you are in the middle of this snow storm, please be safe!

Stay Safe and Be Kind!
Nathan

"MOVE WITH CONFIDENCE......WITH THE TEAM THAT CARES!!!!"

Web site: Nathan@NathanCares.com

Nathan Guttman-KWLC Partner, ABR, SRS, CNE
The Realtor® Who Cares!
Nathan Guttman Caring Team
Keller Williams R.E.
40 S. Cedar Crest Blvd.
Allentown, PA 18104
License#: RS284327
Direct- 484-357-4152
Office: 610-435-3650
Nathan@NathanCares.com

Amy Kushy, ABR, SRS, SRES, CNE
Professional Realtor/Buyer Specialist
License #: RS287554
Direct: 610-657-6438
Office: 610-435-3624
AmyKushy@NathanCares.com

David Emili, Jr.
Professional Realtor/Listing Specialist
License# RS316162
Direct: 610-653-5022
Office: 610-435-3620
David@NathanCares.com

Shauna
Office Administrator-Non Licensed
Mobile: 484-357-4153
Office: 610-435-3650
Admin@NathanCares.com
0 votes
Mandee G. Re…, Agent, Lehigh Valley, PA
Fri Feb 8, 2013
If you have the full sum for the purchase, you can pay cash. Some sellers and agents prefer that for multiple reasons. For one, you can typically close sooner on a property if you pay cash. Also, when you finance, the bank sends out an appraiser, which opens up potential for the deal to fall apart.
0 votes
Heather Mori…, Agent, Allentown, PA
Fri Feb 8, 2013
Yes you can pay cash not a problem :)
0 votes
Autumn Bragg, Agent, Bethlehem, PA
Fri Feb 8, 2013
Yes, you can pay cash for a home.
0 votes
Ron Thomas, Agent, Fresno, CA
Fri Feb 8, 2013
No one can force you to do either:
Cash is always important, in any transaction.
Sometimes, Builders or Sellers will try to "channel" you toward a particular Lender; but they cannot require that.
You may see "suggestions" on some listings, for a Lender, a Down Payment or Interest Rate.
You are still in America!
0 votes
After speaking to several agents I was beginning to doubt that this was America. As if paying cash was against the law. Thanks for the clarification.
Flag Fri Feb 8, 2013
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