The reason people are offering to pay cash is because most properties around my area are getting multiple offers. When the offers are fairly close you take the one that's most likely to close. Some people are offering way over asking price and the appraisal won't come in high enough so the buyers have to come up with more of a down payment which can kill a deal. A cash buyer gets the house then gets a mortgage later.
Quote:
Originally Posted by joey2665
Paying cash for a home right now with rates as low as they are is really financially foolish. If you have enough to pay cash, I’m not saying to get am 80% mortgage but consider 50-60% down and invest the rest. You will end up making money on the mortgage.
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