Generally, when purchasing off-plan property, many real estate sellers greatly prefer cash
buyers. This is because there is a certainty to their purchase. Cash buyers rarely fall through
financing last minute. Additionally, cash-only transactions typically happen faster. Real estate
sellers can therefore close easily and faster with cash buyers.
No Mortgage Payments, Interest, Or Other Fees
Paying in cash ascertains avoidance of the mortgage process. This also includes all the costs and
fees that come with it such as interest rates or mortgage insurance. In the long run, as a buyer,
this saves you a lot of money.
Additionally, this means there is no extra payment to worry about in the long run, and you
experience a larger profit margin on rental income.
Lower Closing Costs For the Off-Plan Property
Buying a home often comes with things such as lender fees, application fees, or loan origination
fees. You may also have other costs related to the loan or home purchase that are required by
the lender, such as a lender’s title insurance policy.
When you pay in cash, you won’t have to deal with lender-related closing costs, which
translates to lower closing costs for you.
Easier Closing Process
When closing a deal while buying an off-plan property, unforeseen issues may come by.
However, the closing process becomes so much easier when you pay with cash. This is because
you won’t be responsible for keeping track of all the documentation borrowers need to send to
their mortgage lenders.
You Own Your Off-Plan Property
Owning your own home means there is no fear of losing ownership. It shuts off the fear of
lacking shelter or general futuristic concern about having a home. The cash transactions allow
this quest to be as immediate as it can be. Moreover, you not only acquire a home but can
profit from it through rental income.
At Alif, we have great off-plan property ideally located in Parklands, Nairobi that you can make
your cash payments on. Feel free to contact us to make your purchases. We will guide you
through it, step by step.