Selling Your House for Cash – Why It’s Better than the Traditional Route
If you think it’s impossible for someone to buy your house in cash, think again. Cash-only transactions are even growing in popularity, and behind them are perfectly legit investors who buy and sell properties for profit.
Below are the main advantages of selling your house for cash:
The process is quicker. Without a doubt, cash-only transactions are faster than the conventional method of selling a house. As soon as you and the buyer have agreed on a price, it’s just a matter of completing the paperwork, and then you can receive your payment. This can all occur within one or two weeks, depending on the details involved.
You are assured of a close.
Typical buyers can make it appear like they’re very sure about buying your property, but you can’t really tell what issues may arise. For instance, the bank or lender may reject their loan application, or they may simply find another property that they think is better for them. This can be terribly frustrating, but you can avoid it by considering a cash buyer. Again, once you have agreed on a price, it’s all systems ago.
You may be given the option to rent.
What’s great with cash-only buyers is that they explore other ways of gaining profit besides just selling the property. For example, they may allow you to rent it so you don’t have to move to another location. This can be a huge convenience for you, especially if there are kids in your family.
It helps you manage a foreclosure situation.
If you’re in need of cash asap, a cash buyer will obviously be able to provide it for you. This may be especially helpful if you failed to make your mortgage payments and your house is about to be foreclosed. A cash buyer can help you beat deadlines and start a new life clean.
You can expect honesty in valuation.
In most cases, buyers instigate valuations so that fairness can be ensured in terms of the property’s cost and market value determination. This means you won’t have to worry about another buyer possibly giving you a better deal.
You can expect convenience and efficiency.
When people decide to sell their homes to cash-only buyers, it’s usually because they want the transaction to be completed as quickly as possible. The good news is they’re on the same boat as cash investors. After all, they’re in business for the profit. A faster close means they will be able to renovate the property as well as make a profit out of it sooner.