Cash Only Sales.
|
I'd like to talk about cash only sales. These are properties that can only be purchased with cash. You cannot get financing for them. They are fairly rare. An example would be a former marijauna grow op. Banks are very hesitant to lend money for these properties as they are so hard to resell. That is definitely an example of where you need cash only.
Another example is a country property where there is no active septic system or where you have a shared well or don't have a well on the property. If the property is basically not functional and cannot be lived in then the bank will have difficulty providing financing. |