What does "in House or Cash" mean

terrivh · Joined: 28 Dec 2007 Posts: 1 1.31 Dollars($)

a house listed says
In House or Cash

larry · Joined: 27 Jun 2007 Posts: 3328 473.40 Dollars($)

Hi terrivh,

Welcome to the forum.

I have not got your question. Can you please explain it a bit more so that we can try to you a suggestion. Waiting for your reply.

Thanks,
Larry

Guest 0.10 Dollars($)

my son is looking at a house in town. It says in the terms
"Cash or In House" Called realtor but not answering my call. It is very much a fixer upper. We understand the cash, but not the "In House" term

gmakerley · Posted: Fri Dec 28, 2007 2:59 pm Post subject:

i have never heard of that terminology.

kpatrick · Posted: Fri Dec 28, 2007 9:27 pm Post subject:

I'm thinking it may mean that if you're not paying cash, then you have to go through their in-house lender...or it may mean that they are willing to owner finance or carry the note "in house". You will have to wait to hear from the realtor to find out which one it is. I'd be curious to hear what you find out!

lisascherzer · Joined: 04 Jan 2008 Posts: 749 0.10 Dollars($)

In house usually means you will go through the source that they have set up. This may not be in your best interest. But I can tell you that they are saying that the home will not qualify for a conventional mortgage so the rate is sure to be a lot higher. Unless this is a home that you intend to flip for a profit, I would stay away from this type of financing. If you are looking for a home to live in then I would definately look for a better quality home that you can get a low rate mortgage on.

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