What about an all-cash offer for your Savannah Georgia Home?
Although most Savannah Georgia home buyers could never buy a property with all cash, anyone considering such a move (or who has bought a lottery ticket lately) may be wondering how to approach such a deal.
Because Savannah Georgia buyers sidestep the tedious and time-consuming loan qualification process, the deal can close very quickly. In addition to fewer hassles and a better position in price negotiations, the all-cash buyer's primary advantage is completely avoiding mortgage interest, which can total hundreds of thousands of dollars over the life of the loan.
Buyers also save money that would be spent on loan origination fees,
required appraisal, some closing costs and various other charges
imposed by the lender.
At the same time, all-cash buyers should consider potential pitfalls of the transaction. Savannah Georgia Buyers
who want to use the home as their primary residence lose out on many of
the tax advantages available to homeowners with conventional loans,
since the IRS allows home owners to deduct all mortgage interest on
loans up to $1 million.
If you can afford to pay cash but are concerned about price
appreciation, you may be better off obtaining some financing. Also,
look at other which investments are paying off and determine if
spending cash on a home is worthwhile.
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Last Updated ( Wednesday, 30 July 2008 )
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