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Updated almost 4 years ago,

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Jimmy DelOrfano
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Buying real estate without pre approval

Jimmy DelOrfano
Posted

First time home buyer here but cannot get a pre approval because of unsteady employment history as a result of pandemic and being self employed.  Is it ever recommended to buy property with cash outright?  For example, if I have 500k in the bank and I purchase a property outright priced at 450k.  I am currently leasing an apartment that is up May 31st, the landlords do not accept tenant at will agreements.  I feel pressured to buy a property before I sign another 1 year lease to stay in my apartment.  Looking for any recommendations concerning my situation and how to proceed. Thank you.

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