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Updated about 3 years ago on .

User Stats

41
Posts
38
Votes
Frank Mongiello
  • Real Estate Agent
  • West Palm Beach
38
Votes |
41
Posts

How to be a cash buyer without cash

Frank Mongiello
  • Real Estate Agent
  • West Palm Beach
Posted

In my market(Jupiter, North Palm, West Palm, Hobe Sound, Juno), 

like many markets, it seems like every listing is getting a cash deal.  Beating cash can be tough especially if the seller is a little stubborn and doesn't want the headaches of extra contingencies. One of the tools in my tool belt is a lender that will provide a proof of funds for the full amount, assign you the contract and then lend you back on the property with a 21 day close. 

Best part is as long as you don't need to close before 21 days, the rates are comparable and their aren't added points. It's one option I've seen work recently and wanted to see if anyone else has lenders that are doing the same thing to stay competitive. 

  • Frank Mongiello