Mortgage upfront or pay cash then refinance?

[Nick Brubaker]

Hi everyone,

My wife and I are planning to purchase our first property here int he Decatur/Atlanta area.  We're wondering if we should obtain a mortgage from the outset or pay cash and then refinance.  The way I see it, the cash-to-refinance route would give us a bit of a competitive advantage when buying, since paying by cash would likely appeal more to sellers.  At the same time I don't know if costs (rates, closing fees, etc.) associated with refinancing are typically much different than those for a mortgage outright.  I'm interested in knowing what rationale other BP members use.