When you see the phrase “cash-only” listed with a home for sale, this means the home is not in the condition to be financed under a conventional mortgage. These are distressed properties, those that have been abandoned for long periods of time, condemned, or have experienced flood damage or other natural disasters.
What does it mean to buy a property cash?
A cash buyer is someone who is using their own funds to cover the full purchase price of the home, meaning they aren't taking out a loan. These funds could come from savings, investments or the sale of another property.Nov 11, 2021