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    goinghome's Avatar
    goinghome Posts: 1, Reputation: 1
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    #1

    Sep 4, 2007, 02:28 PM
    Purchasing a home for cash
    I know how a home is purchase with a mortgage. What is the process when a home is not financed, but purchased with cash?
    DianeV Sr Loan Officer's Avatar
    DianeV Sr Loan Officer Posts: 76, Reputation: 9
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    #2

    Sep 4, 2007, 09:54 PM
    You have an attorney draw a purchase and sales agreement with terms everyone accepts and signs for and then a closing is held. The buyer brings a certified checkto the closing. The settlement agent deposits in his account, and once all the documents are signed and recorded the settlement agent pays the seller.
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