A Step-by-Step Guide to Buying A House With Cash

 

There’s a reason cash buyers are so sought after.

 

Transactions go much smoother, closing is faster, and the overall process of buying and selling is less tedious than when a third-party lender is added to the mix. Buying a house with cash may sound easy, but like with everything else, there can be some hurdles.

 

This blog breaks it down for you to ensure your purchase goes according to plan.

 

You have the cash, so to speak, but perhaps it’s tied up in various assets. Before you begin hunting for a property, get your cash together in one place. Don’t forget to speak with a financial advisor to fully understand the financial implications this will have. Once the cash is in your account, get a ‘proof of funds’ from your bank to avoid any discrepancies as the deal progresses.

 

 

This is the best part. Find a professional real estate agent and let them know you plan on buying a house with cash. Once they know your budget, they can show you houses that meet your requirements. When you’ve found your dream home, sit down with your realtor and craft the perfect offer.

 

Once you’ve done your homework, make the bid, sit back, and keep your fingers crossed!

 

Ask your residential realtor to help find a settlement agent to hold, account for, and eventually transfer money. As part of their responsibility, they should also facilitate the title search and transfer. Depending on where you are, this could be an escrow company or an attorney.

 

Let’s be real. No one wants wads of cash, even if it is a cash payment. Have your cashier’s check ready when the time comes to seal the deal.

 

It’s always a good idea to have an inspection, land survey, and third-party appraisal done before you make your final decision. Based on your requirements, your real estate broker can advise you how to move forward.

 

Once you’ve completed the final walk-through and are satisfied with what you’re getting, it’s time to close. Don’t forget to bring your proof of identity. Once the house is officially yours, it’s time to celebrate.

 

If you’re looking for a helping hand to assist you in finding the right house, head on over to Naylor KW. Our experienced team of Rockwall realtors can help you every step of the way whether you’re buying or selling. Our mission is to find you the best houses within your budget. Still on the fence?

 

Book your free consultation with our Rockwall realtor now.