Buy House W/ Cash W/ Help From Fam

[Stephen Foltin]

Hello all,

Was wondering, has anyone borrowed money from their family to buy a house in cash, then refinance as soon as possible to get loan and pay family member back? I’m in tight market in Charlotte with low inventory and houses go quick and was wondering how much of a leverage chip it is to have a cash offer. Assuming I can even get a family member to lend me enough to buy in cash, is it worth it? Assuming I know I will qualify etc? I know we would have to pay double fees as far as closing again but ultimately if I get the house for the price I wanted because of cash offer it’s worth it right?