Cash Buyer? Don’t Skip the Appraisal!
Buying a Home with Cash?
1607 homes listed in the Austin-area MLS were purchased by cash buyers in the last 90 days.
One question we hear is, “If I have the cash, and I don’t need a lender to give me a loan, why would I spend the money for an appraisal?”.
The short answer is: to get an independent opinion of the value of the home. Because you’re making a BIG decision and extra information to inform that decision is a good thing. Because after the inspection (by a licensed home inspector, to determine the condition of the property), you might want to re-negotiate the contract terms (before your option period runs out). Having the results of the inspection AND the results of an appraisal will give you information that can help you weigh your options if you decide to re-negotiate.
And, in particular, if you’re a cash buyer because the house needs too much work to qualify for a loan, then an independent opinion of the value of the property can help you decide if you really want to do the deal. You can order an appraisal for a cash purchase that provides both an AS-IS and AS-REPAIRED value.
What does it take to order an appraisal? Just call (512) 541-2107. We can usually schedule the inspection within two days, and have the report back two days later.
*This content is developed from sources believed to be providing accurate information. The information provided is not written or intended as tax or legal advice and may not be relied on for purposes of avoiding any Federal tax penalties. Individuals are encouraged to seek advice from their own tax or legal counsel. Individuals involved in the estate planning process should work with an estate planning team, including their own personal legal or tax counsel. Neither the information presented nor any opinion expressed constitutes a representation by us of a specific investment or the purchase or sale of any securities. Asset allocation and diversification do not ensure a profit or protect against loss in declining markets. This material was developed and produced by Advisor Websites to provide information on a topic that may be of interest. Copyright 2021 Advisor Websites.
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