Quote:
Originally Posted by Susie Cougar
In my neighborhood, we have resales as well as new homes being built every day. The realtors say that over 70% of the new sales are paid in cash. They said that if you can pay in cash you have an advantage over those who are looking for a mortgage approval or any other contingencies. Buyers who are using cash are waiving everything else so they can have a fast sale.
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I understand the strategy but it is a financial error. It’s pretty easy to be approved for a mortgage when your putting 50-60% down.
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