If you think getting a cash payment for a house is too good to be true, think again. Cash-only transactions are even growing in popularity, and behind them are perfectly legit investors who buy and sell properties for profit.
Here are the key advantages of selling your house to a cash buyer:
The process is drastically faster. Cash-only transactions are undeniably faster compared to the conventional house-selling process. 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 happen within a week or two, depending on how fast the details can be ironed out.
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 example, their loan application may be rejected, or they may simply change their mind. 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 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 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 with an impending foreclosure.
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. 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 whether you could have gotten a better deal with another buyer.
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 for them is that cash buyers want the same. After all, they’re looking for profit. The faster the transaction concludes, the sooner they can begin working on it and making money out of it.