Begin the process by checking with your credit card company to find out your available balance. This information can also be found on your most recent statement or by logging onto your account online. Your best bet is to use a credit card that does not currently have a balance due on the card. If you have more than one credit card through the same company, check to see if you can combine the two to increase the funds available to you.
Look for a zero percent interest balance transfer offer. Make certain to read the fine print. Look for an offer that allows for the longest term at zero percent and has the lowest balance transfer fees. These offers will usually allow you to transfer funds directly into your bank account to use for the purchase of the home. While you are speaking with the credit card company, find out how many days it will take for the transfer to go through to your bank account. Typically the transfer will take up to 10 days.
Start shopping for houses. Look at every house available in your price range. Don’t snub your nose to anything just because of the address. You may find out that there are a couple of good blocks in a particular neighborhood in which you are not familiar. Keep your mind open to all possibilities. Multi-family units are the best rental properties, because if someone moves out you still have rent coming in from the other tenants.
Once you have narrowed your search down to a few properties, call your realtor. Let him know how many days before the closing that you need in order to transfer the funds and to put this in the offer. Tell him to treat it like a cash sale, because in all reality as far as the realtors are concerned, you are paying cash.
Once your offer has been accepted, wait until you have received a closing date from your realtor before transferring the funds into your checking account. Once you are ready to close, you will need to talk to the title company to get wiring instructions. They usually have a form they will provide you that you can take to your bank a day or two before the closing in order for everything to go smoothly.