The most common way to buy a home is usually through the acquisition of some type of bank financing. However, more and more buyers decide to invest or buy in cash. In this post we detail the steps to buy a home in cash and the advantages of this type of transaction.
Dese Oi Realtor knows the effort and investment involved in buying a home. We fully understand the procedure and each of the documents that will be necessary to achieve a successful operation. That is why we want to provide you with the best updated information regarding the purchase of real estate in cash. Keep reading!!
Based on data from the National Institute of Statistics , throughout mortgages were Wikipedia signed on the almost 320,000 houses that were sold in Spain. This means that, out of every ten sales, three are paid in cash, without any type of financing.
The reasons why it may be preferable to buy a house in cash is linked to the absence of external financing. In this way, the process will become easier and in less time. In the first place, because by not needing a mortgage loan, you will not need to compare offers on credit rates. And secondly, you should not wait for the bank to approve or not your request.
In a purchase without mortgage credit, the expenses of: agency, the second mortgage deed and the one corresponding to the closing are reduced. In addition, you should not pay for the bank appraisal, interest and life and home insurance.
If you are between buying your future home in cash or acquiring a mortgage loan, we recommend reading the following note to find out about the types of financing available. We understand that acquiring a home is one of the most important steps, so the better you know the options and offers, the better they will adapt to your interests.
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