In 2017, 21% of all homes were purchased with “cash” (Source: http://economistsoutlook.blogs.realtor.org/2018/02/05/fewer-cash-sales-investor-buyers-and-distressed-sales-in-2017/). To be clear, buying a home “cash” (as they say on the street) does not mean you, literally, show up at the closing table with cash in your pocket (okay, I admit it; I used to think that was the case…!). No, fortunately, we have “evolved” to prevent fraudsters from using real estate as their vehicle for laundering money in this Country; the best we can, anyway. In order to buy a home with cash, you need to be able to provide verifiable evidence of funds on deposit with a reputable and verifiable financial institution. Provided that is the case, I will quite honestly tell you, there’s not much else that will get in your way of buying a home “cash”.
Now, for the other 79% of us who are coming up a few dollars short of being able to buy a six-digit home with cash, there are additional options. Three, to be exact (I told you there were not ‘hundreds’…)!