Although it may seem like an all cash deal to buy real estate is the simplest and most efficient means of securing a house, there are some hidden pitfalls that often go ignored. Often, these deals come with extensive caveats that can endanger the agreement if they are not met. According to a recent New York Times article, all cash buyers frequently feel like they can dictate the terms of the agreement to a greater extent than comparable buyers who are more concerned with securing a mortgage first.
While the prevalence of all cash deals in Santa Barbara real estate seems to argue that this is the preferred method of exchange, this fantastic NYT’s article counters that a sea change may soon take place. Be sure to read it in it’s entirety!