What is a CASH SALE? You might be surprised what some people think the answer is…

Here in Fredericksburg, we are seeing a fair amount of cash transactions. Often, as I cheerfully and in a timely fashion review the contracts that come across my desk, I find that one persons definition of a cash sale can differ greatly from another persons definition. It brings to mind that great cinematic classic “My Cousin Vinny.” One of my favorite scenes is the one in which Joe Pesci is attempting to get Marisa Tomei her money back from the nice country boy who took it from her in a game of billiards. I forget exactly how the conversation goes, but Joe Pesci’s character ends up asking for proof that country bumpkin actually has the money, to which he replies “I can get it.”

 

Every time I get halfway through a cash transaction only to find out it is really being financed by a hard money lender (I usually find out about this about the time the appraiser calls me) I think of this movie. “I can get it” does not mean you have it.

A cash sale means you can stroke a check, right now. Today. Immediately. It does not mean “I been banking there for years; I know they will give me the money”

Kevin McGrath
RE/MAX BRAVO – Broker/Owner
Fredericksburg/Spotsylvania, VA 22553
kmcgrath@remax.net
www.fredva.com
Licensed In The Commonwealth of VA

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