For those of you that have enough cash to purchase a home you definitely want to make that move.With cash clients have the option to under bid on a house a substantial amount because they don’t have to pay a lot of mandatory fees.
The lender fees are the mandatory fees that make a big difference in the cost. The lender fees may consist of doc prep fees, admin fees, tax fees, courier fees, attorney fees, recording fees, tax certificate fee, wiring fee, title company fee, termite inspection, survey, pre-paid items and more. It’s very important to know that all of these fees don’t have anything to do with your mortgage payments. Also using a lender may take a standard time of 30 to 45 days. These are simply the fees associated with the loan. With a cash closing it may only take 2 - 3 weeks or less to close.
I have a quick closing with one of my houses because it is a cash offer. We have the opportunity to close so fast that the home owner won’t even have to make another mortgage payment. The owner of this house was just about to have the floors remodeled for a fast sell too, but when opportunity came to knocking it was time to answer. The house received a contract in less than 30 days.Welcoming a great 2013 and a prosperous year.