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Buying a home was cash. Play your cards right and protect yourself. Watch till the end and learn what to do and what not to do when it comes to purchasing a property with cash. And I will give you my absolute phenomenal checklist that you can use for this process. So first off, Congrats on your ability to pay cash. This is a huge accomplishment. Now, first things first, though. I don’t think you should be going from open house to open house. Striking up a conversation was every real estate agent you encounter about your rather large financial asset that you’re planning to invest? So what are you going to do?
Recognize that there are multiple people involved in a real estate transaction and not everybody has your best interests at heart. So who should you trust? Hi, I’m Janine Sasso, realtor in Schaumburg, Hoffman Estates, Barrington and the surrounding suburbs of Chicago. First thing you should have in place is a designated buyer agent. A designated buyer agent will have your best interest at heart. And the best part. He won’t cost you a. A buyer agent is somebody that you should feel 1,000% comfortable with because you will be disclosing certain financial data to that person. Keep in mind that they are hired for your best interest. But personal feeling and intuition goes a long way. If you have an iffy feeling, who is your guard? Find the agent that just seems right for you and what you need. The listing agent seems to be the best point of contract when it comes to purchasing a property.
After all, he has a direct connection to the seller, so why don’t we talk to the listing agent and tell him that we have a boatload of cash to invest? Listing agents job is to protect the seller’s best interests and get the best possible terms for the seller. Now you tell me where you think that listing agent might have your best interests at heart. You think they will watch out for you? You think that we should be disclosing your financial picture and abilities to the listing agent? Look, I get it. Sometimes you wind up with an agent where you still don’t feel 100% comfortable and you don’t want to disclose everything that there is to disclose through your situation.
Maybe I don’t trust the agent. Maybe you are obligated to use Cousin Freddie that you promised your Aunt you will use them even though you don’t like them. Maybe you just have a very private, whatever the reasons. I get it. In that case, you can always have your lending institution draw up a letter that states that you are financially capable to purchase the property was an address inserted without giving them a financial number that you can qualify for and you’re still keeping some of that very private. The listing agent then has the ability to go to that lender and verify that you have the necessary funds available to close.
Here’s another tip. Don’t send heat of the moment replies in any time of the transaction. You never know when somebody will just forward. An email making may be unaware that there is, you know, confidential data enclosed. So. We’re talking about a different topic here when we get into wiring fraud. Well, keep that for a different video. But if you do have a boatload of cash to invest in a property, keep your cards close, keep your trusted advisers closer and find somebody that can represent you to a level that you are 1,000% comfortable with. My name is Janine Sasso. I’m a local Chicagoland real estate agent, servicing Hoffman Estates, Barrington Schaumburg. And if you are looking for any more real estate advice, please reach out to me and my team. We’d love to help you and make sure you subscribe to our YouTube channel. Ring that bell and I’ll see you in the next video.
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