David Bruce

February 2nd, 2009

Cash Gives You An Edge When Buying Richmond Real Estate

In these difficult and challenging times cash can give you an edge in buying a home.  Cash, equtes to more buying clout now in these tough financial times. In the past, people have sought out more liquid investments for their cash on hand and grab an easy to get low interest mortgage. Today with the equity markets depressed at the same time that mortgage lending has tightened the tables have turned. Those wielding ready cash in a recession are always ahead of the game. Having cash gives you a leg up in securing better terms for your mortgage and in negotiating with sellers.  Sellers that know you are well qualified will spend much more time negotiating because you will be viewed as serious buyer.

Don’t have cash on hand?  Start a down payment fund?  The goal should be to amass as much as possible to bring to the table when buying a home. Set monthly saving goals. Shore up the family budget. Work an extra job if you must. The pain will precede a gain: a better mortgage loan, a lower purchase price, lower house payments and higher equity in the future.

Be smart and meet with knowledgeable REALTOR and mortgage lender. Skye Bruce Properties, The Official REALTORS and Buyer’s Agents of RichmondHomeShopper.com has a support team industry experts including mortgage lendors. Contact them today!

This entry was posted on Monday, February 2nd, 2009 at 7:00 pm and is filed under Buying A Home, Mortgage Info. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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