 Our house is for sale, we just got an offer, but it will leave us 12,000 in the hole, after realtor fees.? |
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 Walk away or try to re-negotiate the purchase price? |
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 19 year old first time home buyer? |
| I'm 19 years old and am interested in purchasing my first home. I have a steady job that i've had for over a year, I gross a little less than $600 per week. I have a credit card but i'... |
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 For all you carpenters and landlords out there? |
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crazyshortstuff00 | Home equity on a house paid with cash? |
Hello. Were looking to buy a home. And pay in full with cash. Will we gain home equity faster that way? |
 |
 
luludoodie
 |
UK reply
If you did that in the UK you would have the money laundering people around very quick if the house is sld to you by a reputable company .
It is not legal to buy something like this with at least 100k of cash - that's how drug dealers invest their money!
Our local Jaguar dealer has a big notice in his showroom "no more than 2k can be accepted in cash". |
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v b
|
Equity is just the difference between the value of the home and any mortgages.
$0 debt = 100% equity. |
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SmartA$$
 |
Equity is the value of the home minus the amount owed against the home on mortgages, lines of credit, etc. If you don't owe anything against the house, then the full value of the house is equity. |
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Jeff T
|
Yes.
Equity is simply (the value of the house) minus (the amount you owe).
If you don't owe a mortgage, you have 100% equity. |
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golferwhoworks
|
yes as it will be all yours with only minor liens placed every year for taxes by the county you live until paid so it will be all equity |
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Ren
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If you pay in full with cash then you will have 100% equity in your home from day 1. If you mean will the value of your home go up faster then the answer is no. |
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src50
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Your equity is then the market value of the house. |
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Tom
|
Well, obviously, if you pay cash you will have home equity in the amount you pay immediately. However, if the housing market goes down your equity may follow suit. |
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gypsyj1
|
If you do not know the answer to your question, you may want to consider talking to a financial consultant first.
If you have the cash to pay for a home in full and don't understand "EQUITY" than you are not prepared to purchase a home now and need more education on home ownership. |
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