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Indeed been a Cash House Buyer and buying a home with cash is both logical and beneficial, ask the wealthy homebuyers flocking Auckland City. The other day, a certain 56-year-old Accountant purchased a 3-bedroom apartment using a Bank Cheque or what is also known as Cashier Cheque or the full $827,000 purchase price. To most people, such a figure is simply insane, but according to the investor, borrowing was readily unnecessary.
Everywhere you turn today, and you hear bizarre and heartbreaking stories about mortgages. On a sharp contrast, cash payments attract what it is called the “liquidity discount.” If the investor had decided to use mortgages, perhaps he would have paid over $900,000. It means that Cash House Buyers save a massive chunk of money to both the buyers and the seller on direct purchases including avoiding Real Estate commission and marketing fees.
