Cash Is King For Second Homes

Certainly buyers with cash, vs a mortgage, have always had somewhat of an edge when negotiating with property sellers. This is particularly true for second and investment homes. The current difficult mortgage environment makes cash deals even more desirable. Why would a seller want to risk having their offer fall through due to the buyers' inability to secure a mortgage?

SmartMoney magazine has a very interesting article in the June, 2011, issue on why cash is especially important in purchasing 2nd homes. This article is on the SmartMoney.com website... here.