A new wave of home buyers Nationwide are opting to pay all-cash, cutting lenders out of the equation and going mortgage-free. According to economists at Goldman Sachs Group in the last 18-months, more than half of home buyers (56%) are purchasing without financing.
All cash sales streamline the home buying process. Additionally sellers are more than likely to favor buyers who can pay all cash, for a speedy and smooth sale.
A large majority of all-cash buyers are most likely from foreign buyers, empty-nesters downsizing, investors and wealthy homebuyers who dont want to go through the hassle of getting a mortgage before closing on a sale.