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Can you buy a house for cash if your present house is being foreclosed on?
Wiki User
∙ 11y ago
I would think so. Though the bank should be using all means possible to get that cash from you to pay for your currently foreclosed house.
Even if they don't, paying in full with cash for anything will always be accepted.
Wiki User
∙ 11y ago
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Can you buy a house for cash if your house is being foreclosed on?
Yes you can
Do you have to pay cash to buy a foreclosed home?
Not all cash. You have to pay some cash to buy any home (the down payment). Therefore you buy it the same way you would buy any house.
Can you buy back your home after it has been foreclosed?
Yes, certainly, if you have the cash to do it. Better late than never.
Do you have a lein on your property?
yes but I paid cash for my condo(association dues) , can it be foreclosed if so by who i don't have a mortgage
How can one pay cash for houses?
If you have accumulated enough money to pay cash for a house you would present the payment for the house to realtor or lawyer that represents the current owned of the house at the closing. It is likely that they would require a cashiers check for a sum that large.
Can a house be purchased back from the bank by the owner after being foreclosed?
That might prove tricky. If you have the money to buy it back, the bank would wonder where the money was when it was time to make a mortgage loan payment. It's doubtful that the bank would give you a loan right after foreclosure, and it would be strange if you could come up with cash to buy it at possibly a substantially reduced price.
Difference between present value and net present value?
Present value is the result of discounting future amounts to the present. For example, a cash amount of $10,000 received at the end of 5 years will have a present value of $6,210 if the future amount is discounted at 10% compounded annually.Net present value is the present value of the cash inflows minus the present value of the cash outflows. For example, let's assume that an investment of $5,000 today will result in one cash receipt of $10,000 at the end of 5 years. If the investor requires a 10% annual return compounded annually, the net present value of the investment is $1,210. This is the result of the present value of the cash inflow $6,210 (from above) minus the present value of the $5,000 cash outflow. (Since the $5,000 cash outflow occurred at the present time, its present value is $5,000.)
How do you convince your parents to get you that expensive Christmas present if they're really short on cash?
You don't. If your parents are really short on cash, you shouldn't expect---or even ask for---any present at all. They will give you the best they can without being asked. You owe some responsibility to your family.
Making Smart Real Estate Investments?
With over 1 million foreclosed homes available for purchase in the United States, it is no wonder investors are quickly snapping them up. To get a piece of the real estate pie, you should consider investing in a foreclosed property. Foreclosed properties are also referred to as "fixer uppers," because they can require some maintenance work before they can be sold again. Before you purchase a foreclosure to fix up and resell, consider these tips to make the smartest real estate investment choice possible.Choose a Good Location Just because a foreclosed property is dirt cheap does not mean it will yield a profit. Make sure the foreclosed property is in a good area. If it is in a poverty-stricken area of a large city, then the foreclosed property is not a good real estate investment. However, if the foreclosed property is located in a suburb with a good school district, then this may make the perfect real estate investment.Make Sure Repairs Are Affordable Some foreclosed properties are only thousands of dollars, but they require hundreds of thousands of dollars in repairs. There was a case in Florida, where a proud homeowner bought a foreclosed property for only a few thousand dollars. The property was located in a beautiful area of Florida. However, upon arriving to the property, the owner discovered the house was filled with over 300 snakes. This is just one of the example of what may be lurking behind the door of a foreclosed property. A foreclosed property is not worth the investment if it will require substantial pest control services or maintenance work.Have Cash Ready If you can pay for a foreclosed property with cash, then you may be able to beat out investors. One of the most difficult parts of buying a foreclosed property is beating out investors. If you can pay for the entire home with cash, then you will stand a chance in buying the property.Investigate the AreaBe sure to do your due diligence on the area and make sure no sex offenders are located near the home. Searching the sex offender registry in your area is one way to determine if sex offenders live in close proximity to a foreclosed property. Buyers do not want to buy a home that is unsafe for their children.To make a wise real estate investment, consider these four tips before you purchase a foreclosed property.
The present value of future cash flows has what relationship to interest rate?
The present value of future cash flows is inversely related to the interest rate.
How can you buy a foreclosed or bank owned property?
I mean, can anyone with cash basically look them up and make an offer?There are a few ways that one can purchase a foreclosed home. Some of these would include getting preapproved for a mortgage, finding an agent that specializes in foreclosures as well as knowing that the home is sold as is.
What is the difference between budget and cash?
Budget is forecasting future cash needs and cash is most liquid form of money at present.
