Cash Is King When Buying A Home
I am not a real estate agent but I hear about how many investors are buying up properties with cash and it is making it hard for those who are getting financing to get an offer accepted especially here in South Florida just as the article mentions. There was an article in The Wall Street Journal that I wrote about where they were going to give people who are buying the home as a primary 14 days before they would let investors bid on the property. I haven’t heard anything since.
“I’ve never seen so many cash transactions in my career as I have in this market,” said Stephanie Vitacco, a Coldwell Banker agent in Woodland Hills, Calif., with 20 years in the business.
The article gives some tips on what to do if you are buying a home with financing. Always consult a real estate professional that is an expert with foreclosures and short sales.