We have cash to buy a house with, what is thebest way to get the house we want with the money we have?

Asked by Angie, Eatonville, WA Sun Jan 27, 2013

We have been looking for property ( 2 acres) with a smaller house and a big shop in the 98387 zip code

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Cyrus Bonnet VA JBLM Pro.’s answer
Cyrus Bonnet…, Agent, Tacoma, WA
Mon Jan 28, 2013
It depends on what your intentions are and how much money you have. If you are searching for a home to live in than you can go with a conventional 5-20% cash down loan. you also have the option of an FHA 3.5% down loan, but you have income limitations. and if you are using a VA loan you don't need any money down and can use your cash for repairs or upgrades; however, always putting money down helps not only your equity but your monthly payment as well. If you are looking to invest you can purchase many homes that need repair under 100k, if you are looking to finance and invest you will need to come up with 25% down on a conventional loan.

For more help or information you can reach me by clicking my name or photo above or you can go to http://www.SoldiersAgent.com.

Have Fun!
0 votes
Scott Carswe…, Agent, Tacoma, WA
Sun Jan 27, 2013
First of all, don't use all the cash. With interest rates as low as they are you should consider a 15 year loan and something like half down. Then use the cash for improvements. Next I would get your mortgage pre-approval. Then I would wonder in to any real estate company in Eatonville, plop yourself down and ask to see what's available. If you don't see what you like, ask to see properties that have been in the market on the past but are now expired or otherwise off the market. Another thing is --- and this might work best for you -- go to the stores and shops around there and mention you are looking to buy and find a property word of mouth that is not on the market. Then go back to that real estate company you were at and hire a realtor to negotiate the Off Market Deal you found.
1 vote
Lindsay Jack…, Agent, Gig Harbor, WA
Fri Feb 21, 2014
Angie, have you had any luck finding what you're looking for? Many agents will say they can help....but until you have had experience with them, you just don't know.

If you haven't found a good fit- let me know.
0 votes
Melissa J. H…, Mortgage Broker Or Lender, Tacoma, WA
Fri Feb 15, 2013
Hi Angie! I'm concerned that you are considering utilizng your cash to pay for the new home. Is there a particular reason why you wish to utilize cash and not obtain a mortgage? I think this is a very important topic that needs to be looked at closely. With interest rates where they are, you are able to borrower money for next to nothing. There has never been a time in our lives, where money has come this cheap and it will probably be the last time we see this.

Additionally, our economy is getting stronger and our investments are starting to improve once again, so if you keep at least half of your cash and place it in an investment vehicle, you are more likely to have more income and assets when you really need it and you will never need to borrow money at high interest rates because you utilized the low rates for low cost when you had the chance.

I would be more than happy to work with you via phone, e-mail or in person and can illustrate the benefits of obtaining a mortgage versus paying cash for a property. Please click "reply" on my post or click on my name to obtain my phone number or message me directly. Thanks and good luck to you if I don't hear from you. Melissa Holt 253-552-2072 , Senior Loan Officer, Homestreet Bank in Tacoma.
0 votes
Stacey Lange, Agent, Kirkland, WA
Sun Feb 3, 2013
Angie -

We have a very comprehensive website and I set up a custom search to help filter the home criteria you are seeking. The new listings are updated several times throughout the day and when you see something you like and that you want to tour just click "GO SEE THIS HOME" -- you can save favorites, check out a street view, see all the features of the home and check out nearby amenities. Once on the page you can sort by your price range.


If you want to SAVE the search and register our system will then automatically email you the NEW properties that come on the market that meet this criteria -- it makes finding the right home so much easier!

Let me know if you have questions and happy house hunting!
0 votes
Jimmy, Home Buyer, Lakewood, WA
Sun Feb 3, 2013
Look for properties that been on the market two months or more and ask for expire listings. Always look for profitable deals vs finding a property. If a agent can't tell you his is a profitable deal you have the wrong agent. Always do your own homework. Always look at properties like a investor not like a homeowner. If you looking for a property just to live in you just looking for a property. If you looking for property to invest in you are looking for a profitable deal.
0 votes
Ruth and Per…, Agent, Los Gatos, CA
Sun Jan 27, 2013
Hi Angie

Go to http://www.realtor.com. And check for homes
In your Zip Code.

Also get in touch with the many fine agents responding to your question.

Good luck
Web Reference:  http://ruthandperry.com
0 votes
Pam Marzano, Agent, tacoma, WA
Sun Jan 27, 2013
Our company has search sites set up to find the bargains. Once the search is set up you will receive bargains in your inbox, real time, no delays.

Go to youtube and search for Asset Realty Group for more info on how our company was started. The software was created to find bargains in Real Estate.

If you are looking for the best bang for your buck. go to http://www.themarzanoteam.com
0 votes
Stacey Lange, Agent, Kirkland, WA
Sun Jan 27, 2013
I know of a great agent in Tacoma / Spanaway area.....that I highly recommend. You can start your search here: http://www.searchseattle.net/blog/spanaway-real-estate-and-s…
0 votes
Kelly Baker, Agent, Puyallup, WA
Sun Jan 27, 2013
The first thing to do is team up with a full-time Realtor that you feel comfortable with. Once you have a Realtor working for you, you will have a market advantage as listings will come to you instead you chasing after them.

When I work with my clients I search and network on their behalf. Often times I am notified about properties before they even come onto the market. After I set up a search in the MLS for my client,as soon as a listing agent enters a property that fits their criteria, I will get an email and I forward that off to my client for their review. In this market where inventory is low, speed is key. If you can be the first to see the property and submit an offer, you will have the advantage. Feel free to visit my website at http://www.nwhomes4sale.net. My site is linked with the NWMLS and refreshes every 24 hours so you will be seeing the most up-to-date information available.
Web Reference:  http://www.nwhomes4sale.net
0 votes
Tracey Lauren, Agent, University Place, WA
Sun Jan 27, 2013
Call or email me! I'd love to help!
0 votes
Dan Tabit, Agent, Issaquah, WA
Sun Jan 27, 2013
It really starts by having a great broker representing you. Having them set up a search to show you the newest listings as they come on the market. The ability to assess the property outside of your desired parameters, what is the value, the resale potential and pitfalls the location or other issues may present.
Next a great broker can work with you on the best strategy to get the property for the best terms once you’ve identified it. Some brokers aren’t well informed or experienced regarding negotiations. It’s a lot more than bidding low and hoping for the best.
Having cash is great, in a competitive bid scenario you will have an advantage, but consider your options with financing being so cheap. If you did a 15 year loan below 3% and held onto some cash you may be better off, have more options and the capacity to buy somewhat higher, but it really depends on lots of factors.
Search for the best possible broker first. A great one is worth more than their commission and a bad one can cost you more than just the commission. Best of luck.
0 votes
Trey Affolter, Agent, Puyallup, WA
Sun Jan 27, 2013
Consult with a local Realtor, one that understands your goals, will work closely with you, will protect your best interest, & will help educate you so you can make the right investment in this market. Contact me for a consultation to see if I'm the right fit. Good luck on your home search!
0 votes
Theresa Morr…, Agent, Tacoma, WA
Sun Jan 27, 2013
I'd be more than happy to help you in your home search. You can send me an email with your requirements and I can start sending you listings that meet your needs right away.
Theresa Morrison
Real Estate Solution
0 votes
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