Nevada Property Cash Transactions, a buyer will pay all of the purchase price in cash. This is called an all-cash purchase and is often used to avoid mortgage loans or other financing options that have a variety of fees and terms. Using cash to buy land also earns the buyer negotiating leverage with sellers since their offer won’t be dependent on getting approved for financing.

The most common method for paying all-cash for a home is using personal savings funds, company revenue or money pooled from investors. Some buyers will also use their existing equity from previous real estate investments to purchase a new land parcel. In either case, paying with documented cash saves buyers from interest charges, loan application processes and other financing fees.

Nevada Property Cash Transactions: A Hassle-Free Guide

In addition to the purchase price, there are various closing costs associated with a home sale. Typically, these include a transfer tax, title fees and HOA dues if applicable. In some cases, the seller may also owe property taxes or other liens on the property which must be paid at closing.

Other closing costs associated with the purchase of a land parcel may include the property’s survey fee, county recording fee and property insurance. The exact amounts can vary depending on location and county. Some counties have a minimum deed recording fee of $10 while others have a higher cost of documenting a change in ownership.