Home Buying in Jackson>Question Details

 sarge_cg, Real Estate Pro in Chicago, IL

If a home lists for $70K can I pay the $70K in cash and avoid a mortgage?

Asked by sarge_cg, Chicago, IL Wed May 22, 2013

Help the community by answering this question:


$70,000 is a price point that is going going gone meaning they typically sell with multiple offers. A cash buyer does hold some weight over finance; however, at the closing table it is all cash to the seller so the seller is likely to consider bottom line in their wallet.

Yes, you can pay cash for any property you want to buy. Cash is preferred.

Just keep in mind in today's market just because a home is listed for $70,000 does not mean you can get it for $70,000. There may be a bidding war.

I do highly recommend that you hire a Realtor with experience in today's market. You need a strategic agent that can make you a winner in real estate.
0 votes Thank Flag Link Wed May 22, 2013
I am sure the seller would love to have a cash buyer instead of a buyer going through a mortgage and all the doc's etc....

best of luck to you!
0 votes Thank Flag Link Wed May 22, 2013
You sure can sarge_cg. But you may be able to get it for less. Please call, text or email if we can provide further assistance. Good Luck!

Michael Hammond





0 votes Thank Flag Link Wed May 22, 2013
A couple thoughts:
The LIST PRICE doesn't always mean that that will be the SELLING PRICE; sometimes they will List LOW to attract multiple offers.
Talk to your Realtor about doing a CMA to find the Market Value; maybe 70 is realistic, maybe not.

Don't forget that you will have Closing Costs' anywhere from $3000 to $6000 would be a guess.

You should Inspections, at least General and Pest, maybe more; add another $500 or so.

Good luck and may God bless
0 votes Thank Flag Link Wed May 22, 2013
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