Are There Advantages to Paying in Cash When Buying Homes for Sale in Scottsdale, AZ?
When you purchase a home, you always want to feel confident that you are getting the best deal possible. Many homeowners choose to use cash to purchase homes for sale in Scottsdale, AZ because of the financial advantages they believe they can enjoy with a cash purchase. Read on to learn more about buying a home in cash and all of the benefits you can experience when you purchase your next property this way:
- Better response from sellers: A lot of sellers want to avoid the hassle of dealing with bank financing, mortgage applications and other complications that come along with financed offers. If you come to a seller with a cash offer, you are likely to get a more enthusiastic response than buyers who are relying on mortgage financing for their home purchase.
- Quicker selling process: Because you don’t have to deal with all of the paperwork, meetings, inspections and assessments that are associated with mortgage applications when you choose to pay in cash, you may be able to get the keys to your new home much faster. This benefits buyers and sellers alike since it gets the full cash amount into a seller’s hand and facilitates the transfer of the property without all of the hassle of mortgage applications and financing.
- Full and immediate equity: When you get a mortgage, you have to wait years (or in many cases decades) before you can completely earn total equity in your investment. With a cash purchase, you don’t have to pay anyone to earn equity in your home—you get full and immediate equity right out of the gate.
- Possibility for discounts: Buying a home in cash reduces a lot of the costs associated with selling a home for all parties involved. Cash payments negate mortgage application fees, financing closing costs and other expenses that are associated with financed home purchases. And while there is no concrete rule ensuring that buyers will receive a discount for a cash offer, many sellers are willing to lower their price for the convenience and security of a cash payment.
- Long-term price benefits: Even the most favorable interest rate that a bank can offer you can add a significant amount to the total cost of your home. In addition, getting a mortgage means that you will have to make monthly payments for decades. Buying a home with cash enables you to save on interest and get complete freedom from monthly mortgage payments.
Learn about homes for sale in Scottsdale, AZ
When you work with Deanna Peters, REALTOR, you can feel confident that you are receiving the best service possible, regardless of what your luxury real estate needs may entail. Since 2000, Deanna has been dedicated to helping her clients find homes for sale in Scottsdale, AZ that meet all of their preferences and needs. Regardless of what you’re looking for, Deanna is here to help make your vision for your dream home a reality. Find out more about everything Deanna has to offer by calling today!
Categorised in: Buying A Home