Both owners and agents love that their customers purchase property by cash rather than taking the bank for a loan. There are however, are there benefits to the cash house buyer? Yes, there are. We’ll look at the benefits that come from buying real cash.

The first is that you are saving yourself from the additional cost of closing fees that banks charge. Costs for closing are typically three percent of the total purchase prices. There is a charge of $30k for closing expenses if you buy a home that is valued at $1 million using an unsecured bank loan. There is no appraisal fee when your property is paid for with cash. appraisals are mandatory when you get an investment loan from a bank to purchase property; the appraisal cost of about $6,000 will be on you.

The cash home buyer doesn’t need to worry about being turned down by the bank because they’ll deny your request for a loan. It is not necessary to pay any interest on a bank loan as there is no need. Home loans can be very expensive, with a loan of $1,000,000 requiring $700,000. Real estate transactions involving cash acquisition tend to go quickly and save you a lot of time and hassle.

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