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.
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 happen within a week or two, depending on how fast the details can be ironed out.
You are 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 terribly frustrating, but you can avoid it by considering a cash buyer. Again, as soon as a price has been set by both sides, it’s good to go.
You could be given a rent option.
What’s great with some cash buyers is that they consider different ways of obtaining 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 very convenient for you, especially if you have kids in the family.
It helps you survive a foreclosure.
If you want cash ASAP, a cash buyer can obviously give it to 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 will be able to help you bypass deadlines and begin a whole new life.
You can expect honesty in valuation.
Buyers normally take care of valuations to guarantee fairness in determining the property’s cost and market value. This means you won’t have to worry about another buyer possibly giving you a better deal.
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 that cash buyers want the same thing. After all, they do what they do 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.