If you think it’s impossible for someone to buy your house in cash, think again. Cash-only transactions are as real as they can get, and behind them are legit real estate investors who buy properties and sell them for a profit.
Below are the main advantages of selling your house for cash:
The process is quicker. Cash-only transactions are undeniably faster compared to the conventional house-selling process. Once you and the buyer have set a price, you only have to wait for the paperwork and the payment can be transferred to you. This can all occur within one or two weeks, depending on the details involved.
You can be assured of a close.
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. Their loan application may be disapproved, for example, or they may simply change their mind after finding another house that they like better. This can be totally frustrating, but you can steer clear of this scenario by choosing a cash buyer. Again, as soon as a price has been set by both sides, it’s good to go.
You get a rent option.
What’s great with cash buyers is that they may consider different means of getting a profit aside from just selling the house. For instance, they may let you rent it so you need not look for another house to move into. 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 want cash ASAP, a cash buyer can obviously give it to you. This can be particularly helpful if you defaulted on your mortgage payments and are about to lose your house to foreclosure. A cash buyer can help you beat deadlines and start a new life clean.
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 means you won’t have to worry whether you could have gotten a better deal with another buyer.
You can expect an overall convenient and efficient transaction.
When people choose cash-only buyers for their homes, it’s usually because they need a speedy transaction. The good news is they’re on the same boat as cash investors. After all, they’re looking for profit. A faster close means they will be able to renovate the property as well as make a profit out of it sooner.