when buying a property cash ???

[Ricardo A Perez]

Hello BP, 

I am new to investing and practicing on running numbers daily. I have a question when buying a property cash are you required to pay the full taxes and insurance for the next year as part of your closing cost ? i ask because i own my primary residence (bank financed) and when i bought it i was required to pay taxes and insurance in advance at closing and put them in escrow. just want to make sure i am running my number correctly for acquisition. 

[Zach Lemaster]

@Ricardo A Perez

If you are not having a lender escrow the taxes & insurance, you should be able to pay them year by year except for the proration at closing on the HUD. Just curious, why are you not considering financing? Rates are all time lows right now, and an excellent time to secure great rates on long term financing.