Cash Purchases
Category Property News
Cash Purchases
Making a cash offer to a seller puts you in a strong negotiating position, as nothing is more attractive than an opportunity to close a deal in the quickest way possible.
The perks of a cash deal is that it can take up to 6 weeks to conclude as compared to a bond which may take up to 3 months to transfer.
Furthermore, a mighty weight is lifted as there will be no need for a credit check prior to purchasing, therefore waiving the issue of being denied the purchase due to poor financial records.
It is crucial to ensure that you have sufficient money set aside for the various processes that follow the purchase such as the transfer costs and duties, inspections and appraisal of the property.
Whilst there are tax implications on a cash purchase, such as the tax-deductions on your bond interest, overall, you do end up paying interest on your bond repayments in the long run.
Always consider the best options at your disposal and by seeking the help of a reputable estate agent!
Author: Prime Property Marketing
