cash buyer buyers real estate agents acquisition indebtedness debt: What Every Cash Buyer of Real Estate* Needs To Know - 07/17/08 03:55 AM
If you're paying cash for a *primary or secondary residence, congratulations!  You'll have a better chance of getting your offer accepted and can close fast.  30% of home sales in California are sold to cash buyers according to the National Association of Realtors. 
How many Realtors know to advise their cash buyers to seek tax advice in order to preserve their "acquisition indebtedness" mortgage interest deduction?  How many know that there is a 90 day rule that buyers must take advantage of in most cases?
If cash buyers don't obtain a mortgage loan within 90 days of the close of escrow they forever … (1 comments)