If you think getting a cash payment for a house is too good to be true, think again. Cash-only transactions involve legit real estate investors who are in the business of buying properties and selling them for a profit.
Here are the key advantages of selling your house to a cash buyer:
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 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. 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, all it takes is for you and the buyer to agree on a price, and then it’s all systems go.
You may be given the option to rent.
What’s great with cash buyers is that they may consider different means of getting a profit aside from just selling the house. For example, they may allow you to rent it so you don’t have to move to another location. This can be very convenient for you, especially if you have kids in the family.
It helps you survive a foreclosure.
If you’re in need of cash asap, a cash buyer will obviously be able to provide it for you. This can be particularly helpful if you defaulted on your mortgage payments and are about to lose your house to foreclosure. 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 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.
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 the transaction concludes, the sooner they can begin working on it and making money out of it.