If you think it’s impossible for someone to buy your house in cash, 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 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.
You can be 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 awfully frustrating, but you can avoid this scenario by selling to a cash buyer. Again, once you have agreed on a price, it’s all systems ago.
You get 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. They may, for example, let you rent it so you don’t have to go through the trouble of finding another house and settling in. 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 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 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 convenience and efficiency.
When people choose to sell their homes to cash buyers, it’s generally because they want the transaction to close as fast as possible. The good news for them is that cash buyers want the same. 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.