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Path: utzoo!watmath!clyde!burl!ulysses!allegra!mit-eddie!think!harvard!seismo!ut-sally!ut-ngp!rick
From: rick@ut-ngp.UUCP (Rick Watson)
Newsgroups: net.invest,net.consumers
Subject: Re: Re: "No Money Down" (Other People's Money) Scam
Message-ID: <2796@ut-ngp.UUCP>
Date: Sat, 11-Jan-86 23:32:04 EST
Article-I.D.: ut-ngp.2796
Posted: Sat Jan 11 23:32:04 1986
Date-Received: Mon, 13-Jan-86 01:05:46 EST
References: <164@bubba.UUCP> <757@hou2g.UUCP> <131@molihp.UUCP>
Organization: UTexas Computation Center, Austin, Texas
Lines: 16
Xref: watmath net.invest:1018 net.consumers:3839


Selling a house for cash has the following advantages:

1. With a bank loan, often the seller and buyer must pay both must pay
   the bank points or other fees to get the loan. When I bought my
   current house 18 months ago, the seller paid 4 points on $65000, 
   or about $2600.

2. Avoiding the bank can save 30+ days waiting for credit checks, etc.

Rick Watson
University of Texas Computation Center
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