On Homes: My Thoughts Explained
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.
The following are great reasons to sell your house for cash:
The process is quicker. Cash-only transactions are the fastest you can get when it comes to selling a house. The moment you’ve set a price with the buyer, the paperwork is all that’s left to do, and then the payment can be transferred to your account. This can all take place in one to two weeks, depending on how simple or complicated the details are.
A close is guaranteed.
Traditional buyers may make you feel like they are very sure about buying the property, but there’s no telling what issues may crop up during the transaction. For example, their loan application may be rejected, or they may simply change their mind. This can be awfully frustrating, but you can avoid this scenario by selling to a cash buyer. Again, all it takes is for you and the buyer to agree on a price, and then it’s all systems go.
You could be given a rent option.
What’s great with cash-only buyers is that they explore other ways of gaining profit besides just selling the property. For instance, they may let you rent it so you need not look for another house to move into. This can be very convenient for you, especially if you have kids in the 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. With a cash buyer, you don’t have to worry about beating deadlines and starting a whole new life on a clean slate.
You can expect an honest valuation.
Buyers usually instigate valuations to ensure fairness in terms of determining the home’s market value and cost. This frees you of worries as to whether another buyer could have given you a better deal.
The transaction is convenient and efficient overall.
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 that cash buyers want the same thing. After all, they’re in business for the profit. The faster they close the transaction, the sooner they get started on renovating the property and making money out of it.