Buy house with cash- advantage & disadvantage- how to?

Is there any way to buy a house paying all cash?





How would you do it? And would that be an effective way?Buy house with cash- advantage %26amp; disadvantage- how to?
Yes, you can do it. It's done all of the time on very expensive homes.





You submit an offer. Offer gets accepted. You open escrow. You deal with all of the purchase issues except the loan approval (i.e., title, inspections, repairs, etc.)





Two days before close of escrow you put all of the cash into the escrow, and two days later you're the owner.Buy house with cash- advantage %26amp; disadvantage- how to?
You would have to have the cash - that simple. The advantage is you don't have to pay mortgage interest. If you have cash in a MM acct right now you are earning about 1.5% and paying about 20% of that income in taxes. If you are paying mortgage interest of about 5.75% you can deduct the amount from your income. Say you pay $14375. in mortgage interest you save 20% of that amount in taxes - or $2875. You still have given $11,500. to someone else.


With 250000. in the bank earning 1.5 you make $3750 less that 20% tax rate or $3000.