Work with Sunshine Wholesale Properties to enjoy the full advantages of quick closings on great deals by paying cash for your investment property in Orlando; you can get started faster than you may think.
While there are both advantages and disadvantages, making a cash offer means that your offer to purchase an investment property in Orlando is purely an all-cash offer and you won’t need to obtain a mortgage. This may make a similar offer to yours less appealing, as the deal will close more quickly without all of the red tape underwriting a mortgage involves. In addition, while your offer is a certainty, other buyers who require financing can make no guarantee they’ll be approved at the end of the day. Even when comparing your offer to an offer using hard money, cash is still king!
Let’s Make a Deal
If you want to ensure that your cash deal is the most appealing, you’ll need back-up your offer in black and white. You can typically do this by providing proof of funds. You’ll need to be positive you’ve got all of your costs covered and carefully craft your cash offer, making the best impression possible to get the deal. If you need a preliminary closing statement to estimate closing costs, we can provide that for you as well so you know what to expect and budget for.
Gather Your Funds
When it comes time to make the deal, you’ll need to show us that you can put your money where your mouth is. To take full advantage of paying cash for your Orlando investment property, it’s best to have all of the funds allocated towards your investment together in one account. This will help to keep you on top of your available closing funds and reduce the time and complications that can occur when you need to transfer money to get it all in one place. Remember, you’ll need to have ready cash when you present your offer and to close ASAP.
Make a Budget for Buying
Closing is not the time to find out about a surprise expense that you aren’t prepared to meet. Before signing on the dotted line, be certain you’ll have the cash to cover the additional expenses involved in closing by making a budget. These costs can include Orlando property taxes, homeowner association fees and the like. Be sure you’re aware of all possible costs or you could lose your deal.
It can’t be overstated that we find quick and sure cash offers more appealing during the assignment process. This means that you have the advantages on your side when it comes time for us to consider all offers.
Naturally, without all of the parties involved in the traditional home financing process, the deal will move much more quickly through the system. Once all of the requirements of the contract have been met, you can pay cash for the Orlando investment property in as fast as 10 days or even less!
While there are a great deal of advantages gained when you pay cash for a Orlando investment property, as with everything, there are a few negatives.
Your Eggs in One Basket
Because you’re placing your cash into the investment property, it won’t be available for other opportunities that may come along.
Buyers who leverage their funds through a mortgage are able to take deductions on the mortgage interest for their investment. As a cash investor, you won’t be able to take advantage of these deductions.
If you want to avoid buyer’s remorse and feel secure that you’re making the best buy with your cash and you’re ready to seize the day by making an investment in an Orlando property, take the first step by working with Sunshine Wholesale Properties! Send us a message or call 407-476-7098 today.