Buy the house first, then finance it?

Hello everyone,
by now I have an interesting property in sight. Since the offer is quite attractive and speed might be important, I am considering paying for the house initially from equity (and borrowed family help) - and only afterwards negotiate and finalize financing. The "family help" would not be kept, but I would have to repay it within a few months. Additionally, money will be needed for renovation measures.

My question to you: What disadvantages are there in buying in cash and only financing afterward? I will list what comes to mind and how I would approach it. Please feel free to comment and add:

[*]Risk: The bank is also a certain safety factor, e.g., warns against overpriced properties or problematic land register entries, encumbrances, etc..
Approach: Have the house evaluated by a financing advisor; check the land register yourself and have it checked by the notary; review the encumbrance register (should be empty)
[*]Risk: There is no financing afterward at all.
Approach: I consider this excluded, since about 60% equity is used and otherwise good conditions (salary etc.). Previous discussions with the mortgage advisor indicated no problems.
[*]Risk: Assumption that certain funding programs must be applied for BEFORE notarization?
Approach: Check. Does anyone know if for funding of existing property acquisition in NRW there is such a condition? Are there even funding programs if you exceed income group B? I haven’t found any quickly.

Do you see other risks or problems?

And before advice in this direction comes: The family is willing to help me out on short notice, but it is out of the question for them to become the real estate financier themselves.

Thank you, best regards
Pröter

My question to you: What are the disadvantages of buying in cash and financing afterwards?

Exclusively the issues "financing through bank not (as desired)" or "project start = purchase in funding program". You have already named everything possible yourself.

Why so complicated? The notary appointment is at least 2 weeks away… by then you will have easily arranged financing…

Check. Does anyone of you know if there is such a condition for subsidies for existing property acquisition in NRW? Are there any subsidy programs at all if you exceed income group B? I didn't find any quickly.

I believe the subsidy for particularly efficient buildings is possibly income-independent (NRW.Bank.Sustainable Living), but there are somehow dependencies on other subsidy matters, so no idea. Until the middle of last year, there was still a refund on the real estate transfer tax for first-time acquisition of property (then called "Homeownership Grant" also from NRW.Bank) but that was apparently not extended, so it’s probably no longer relevant. (Ended at the end of July 2023) The other subsidies seem to have income limits. However, I’m not really involved in that right now, so maybe I missed something.

Thanks in advance for all the answers so far.

Why so complicated? There are at least 2 weeks until the notary appointment… by then you will have easily sorted out financing…

That is of course a point – but does it really work that fast? I have never carried out the financing process all the way through.
In other words: How long does it take from the moment you tell the financing advisor that you want the loan until the time the final approval comes from the bank?
I am asking because I keep seeing listings being taken down and then coming back after 1-2 months and the seller says that a prospective buyer did not get the financing. So the bank’s decision-making does not take that long?

In other words: How long does it take from the moment you tell the financing advisor that you want the loan until the final approval comes from the bank?

1.5 hours until the green light comes. After that, the procedural processing by the bank until the contract.