#1 Piece of Advice for Cash Home Buyers in New Port Richey Florida - Get an Appraisal

Many times when I hear other people talk about buying a

home with cash the topic of conversation is what a cash buyer is not required to do.  Cash buyers are not required to have a home inspection.  Cash buyers are not required to have an appraisal, Cash buyers are not required to have a termite inspection.  If you are purchasing a home with all cash and you hear these comments from your real estate professional you may want to rethink using their services.  It is true you are not required to have any of these things, you are not even required to carry homeowners insurance...but why wouldn't you?

Home buyers using a lender for a home loan are required to have the home appraised by a licensed appraiser.  This is to protect the bank and ensure that the collateral (the house) is of at least the value of the loan amount since the mortgage is a lien on the property and considered collateral for the loan.  Buying a home with cash in New Port Richey or any other part of Florida I urge you to have the home appraised.  The fact that you are paying cash for the home should not mean that you put yourself in the position of overpaying for the home.  I also urge every cash buyer to have a professional home inspection performed.  Your contract to purchase the home can be contingent on the home receiving a fair home inspection report.  Just because you are paying cash for a home doesn't mean that you should spend you hard earned cash on a home that may have serious defects that you find after the purchase.

My #1 piece of advice to cash home buyers is to have any and all inspections and appraisals performed within the inspection period as set forth in the contract to purchase the home.  I take my job of protecting the public very seriously. My customers always take a priority to my income and you deserve the same protection as anyone who uses a home loan when buying your house. Contact me to discuss your real estate needs in New Port Richey, Trinity and Hudson Florida.  Let my experience and knowledge work for you. 

written by Michael J. Gallo