# Closing costs when paying cash? **URL:** \ **Category:** NYSpeed Off Topic\ **Created:** [February 17, 2011, 1:00pm UTC](https://forums.speedlife.net/t/closing-costs-when-paying-cash/209264 "2011-02-17T13:00:35Z")\ **Posts on this page:** 8\ **Page:** 2
**Author:** ![JayS](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/jays/32/15375_2.png) [@JayS](https://forums.speedlife.net/u/JayS)\ **Post date:** [February 18, 2011, 8:10am UTC](https://forums.speedlife.net/t/closing-costs-when-paying-cash/209264/21 "2011-02-18T08:10:16Z")
> [@theblue](#): > > that is a good point – you can often negotiate with the fact that you’re paying cash. Yep, especially right now with banks tightening the screws on lending. Lots of deals fall through on the lending side, so a seller is much more likely to entertain a lower offer when all that offer is dependent on is how fast the lawyers can move the paperwork. ---------- Post added at 11:10 AM ---------- Previous post was at 11:08 AM ---------- > [@Fry](#): > > Aren’t there some screaming deals to be had if you pay cash? Some bank forclosures or something? Just missed this one: > **[8285 Greiner Rd, Williamsville, NY 14221 | Zillow](https://www.zillow.com/homedetails/8285-Greiner-Rd-Williamsville-NY-14221/30309987_zpid/)** > > 8285 Greiner Rd, Williamsville NY, is a Single Family home that contains 1773 sq ft and was built in 1962.It contains 3 bedrooms and 2 bathrooms.This home last sold for $255,000 in December 2019. > > The Zestimate for this Single Family is $366,800,... Bank short sale’d it at 130k. Was listed at 209900 in 2009. So yeah, there’s deals out there. ---
**Author:** ![jay\_g](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/jay_g/32/111288_2.png) [@jay\_g](https://forums.speedlife.net/u/jay_g)\ **Post date:** [February 18, 2011, 9:47am UTC](https://forums.speedlife.net/t/closing-costs-when-paying-cash/209264/22 "2011-02-18T09:47:23Z")
I’m not sure “cash” has this huge advantage anymore. It really only saves time. Most of the 2 months (average) it takes to buy a house is from the mortgage process. Lawyers still have to do the normal work. I just don’t see a seller dropping the price a large huge amount just because they save a few weeks. Short sales can be nightmares, it could take weeks or even months to just get an answer back on your offer. Either way, good luck. Hope she find a nice house. ---
**Author:** ![Paulo](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/paulo/32/7328_2.png) [@Paulo](https://forums.speedlife.net/u/Paulo)\ **Post date:** [February 18, 2011, 1:10pm UTC](https://forums.speedlife.net/t/closing-costs-when-paying-cash/209264/23 "2011-02-18T13:10:52Z")
> [@JayS](#): > > Please don’t turn this into a fiance/don’t finance debate. She already has plenty of money diversely invested, plus a cushy NYS teacher retirement. The house is being paid 100% in cash. When her current house sells I’m sure that money will be invested, but in the mean time she’s going to use the ability to do a quick cash sale to negotiate price. Wasn’t trying to create a debate, I was honestly curious. You didn’t mention that this was for someone else. And you answered exactly why she would want to. In this scenario, it definitely makes sense. ---
**Author:** ![Jim1234664](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/jim1234664/32/7438_2.png) [@Jim1234664](https://forums.speedlife.net/u/Jim1234664)\ **Post date:** [February 18, 2011, 1:35pm UTC](https://forums.speedlife.net/t/closing-costs-when-paying-cash/209264/24 "2011-02-18T13:35:54Z")
[quote=“jay\_g,post:22,topic:209264"”] I’m not sure “cash” has this huge advantage anymore. It really only saves time. Most of the 2 months (average) it takes to buy a house is from the mortgage process. Lawyers still have to do the normal work. I just don’t see a seller dropping the price a large huge amount just because they save a few weeks. Short sales can be nightmares, it could take weeks or even months to just get an answer back on your offer. Either way, good luck. Hope she find a nice house. [/quote] The only time a cash only offer really helps the buyer is when you are buying a really distressed/REO property or have a SUPER motivated seller. that being said, in those situations cash really is king ---
**Author:** ![JayS](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/jays/32/15375_2.png) [@JayS](https://forums.speedlife.net/u/JayS)\ **Post date:** [February 22, 2011, 11:20am UTC](https://forums.speedlife.net/t/closing-costs-when-paying-cash/209264/25 "2011-02-22T11:20:33Z")
Figured I’d update this. 175 recording 500 lawyer 350 inspection 889 fee insurance That’s it for closing costs on a 142k house when you pay cash. ---
**Author:** ![maybe\_memories](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/maybe_memories/32/5053_2.png) [@maybe\_memories](https://forums.speedlife.net/u/maybe_memories)\ **Post date:** [February 23, 2011, 10:54am UTC](https://forums.speedlife.net/t/closing-costs-when-paying-cash/209264/26 "2011-02-23T10:54:42Z")
cash is king on anything. period. ---
**Author:** ![JayS](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/jays/32/15375_2.png) [@JayS](https://forums.speedlife.net/u/JayS)\ **Post date:** [February 23, 2011, 11:05am UTC](https://forums.speedlife.net/t/closing-costs-when-paying-cash/209264/27 "2011-02-23T11:05:15Z")
And there were a couple offers in, and from the sounds of it the fact that she came in with cash was a factor in her’s being chosen. No idea how big a factor, but it was considered because her agent and the sellers agent talked about it. ---
**Author:** ![maybe\_memories](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/maybe_memories/32/5053_2.png) [@maybe\_memories](https://forums.speedlife.net/u/maybe_memories)\ **Post date:** [February 23, 2011, 11:06am UTC](https://forums.speedlife.net/t/closing-costs-when-paying-cash/209264/28 "2011-02-23T11:06:33Z")
x2^, i can bet ya it definitely was a factor [Previous page](https://forums.speedlife.net/t/closing-costs-when-paying-cash/209264.md?page=1)