Quote:
Originally Posted by Taz
Maybe underwater/upside down is the wrong terminology for a cash buyer. What I meant was even if you paid cash, if the market corrects and property is worth less than you paid you lost money, unless you hold on until values return.
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Sure, you’ll have some exposure, but I don’t think too much as the market won’t go down soon (speculation on my part). And if you can toss around 2/3 of a mil cash you really don’t care.
Cash deals are not At all rare these days , they are prevalent. Inspections are of course done for insurance or peace of mind reasons but are not conditions of the sale, atleast on the properties I’ve seen.