ALL CASH
Buyers typically don't buy a home with all cash, anyone wanting to make such a move may be wondering how. Because all cash buyers circumvent the time-consuming loan qualification process, the deal can close very quickly. The primary advantage of buying a home with all cash is completely avoiding mortgage interest. Buyers also save money that would be spent on loan origination fees, required appraisal, some closing costs and various other charges imposed by the lender.
At the same time, cash buyers should consider potential pitfalls of the transaction. Buyers who want to use the home as their primary residence miss out on the tax advantages available to homeowners with conventional loans.
If you can afford to pay cash but are concerned about price appreciation, you may consider obtaining some financing. Also, look at other investments that are paying off and determine if spending cash on a home is your best investment option.
The information provide above is personal commentary and should not be taken as fact. The Texas Real Estate Commission who licenses Texas real estate agents is very clear about informing clients that even as Texas Realtors, we are licensed as real estate salesmen and are: not Texas licensed attorneys giving any legal advice or binding legal information; not Texas licensed home inspectors, not appraisers, not surveyors, not loan officers, bankers or underwriters and are not title company representatives.