Purchasing with Cash Questions

3 Replies

I just found a private money source that will offer me a nice sized loan at a good rate.  I have only used conventional financing previously and am trying to gain a better understanding of buying cash.

1. Do I use a RE Agent when purchasing cash? I believe I should if it is a REO, what if it a contact that I made through marketing? If not, how are contracts made?

2. What else changes when purchasing with cash? I plan on still getting a home inspection but are there any additional steps that I have to handle myself?

Originally posted by @Brian Gibbons :

@Rob Randle

Use a buyer's agent to protect your interests.

Pay attention and learn how the agent does it.

 Rob:

Remember the buyers agent is paid by the seller.  There are not many reasons to leave him/her out.  Every thing else is the same except no subject to financing clause, and you can close much quicker than if you were financing.  Make sure this investor of yours doesn't want to be in the 1st lien.  Then it would all be the same as a financing deal.

thank you, I appreciate the advice. time to jump in

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