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Here's one big reason someone offering to buy a home with cash is attractive to a seller: Much of the hassle that comes with selling a home - dealing with the buyers financing - is eliminated. If youre shopping for a house, theres a good chance youll compete with all-cash buyers.
In January, 44. 4 of Public bank islamic personal loan 2017. home buyers paid in cash, according to RealtyTrac, a California-based firm that tracks real estate trends. These are financial institutions scooping up investment properties to rent out or foreigners, most likely Canadian.
International buyers account for about 6 of home sales, but more than half pay cash, in part because they cant get mortgages. Still other all-cash buyers are people who have accumulated equity or savings.
The proceeds from a home sale combined with savings can be enough to pay cash for that next property.
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