In this crazy SWFL real estate market, many buyers are having a hard time getting a house under contract. Due to some Sellers accepting cash offers over financed offers some buyers are choosing to pay cash to obtain a contract.
Some buyers may not know that you can do a cash out refinance days after you purchase the house.
We have a program called Delayed Financing where the buyer can do a cash out refinance without waiting for the normal 6 months seasoning.
The cash out is only used to pay back what it took to purchase the house. The Loan To Value is limited to 80% but you get that cash back at a low long term fixed rate mortgage.
Let me know If I can help you or someone you know with this situation.