Advantages of Selling Your House for Cash Selling your home to a cash-only buyer might sound too good to be true, but the truth of the matter is that there are really buyers now that engage in transactions involving strictly cash. The first question you might ask is: is this completely legal? Besides, not everybody has the ready cash to buy a real estate property outright. Remember however that cash-only buyers are typically a group of people with the common objective of purchasing properties fast and hassle-free for profit, explaining the instant cash. The question is, why would you want to sell your property to them? Below are some very good reasons: Fast Closing
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There is no question about the fact that cash-based sales complete faster. As soon as you and the buyer have an agreement, it is all a matter of paperwork and moving the payment. A cash-basis sale is generally closed in as quick as one or two weeks, depending on the terms that must be ironed out. In a traditional purchase where buyers have yet to secure a loan, the process can take much longer.
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Assurance While interested buyers may act as though they are actually buying the property, some issues can still occur in the course of the transaction. Their loan may not be approved, for instance, or something might happens and make them consider another property. This can be horribly frustrating for the seller. With cash buyers, the deal is considered closed once intent has been communicated. rental Option The nice thing about cash buyers is that after buying the property, they will usually either sell it or profit from it through another means. For some sellers, this can mean getting the option to rent their old property, hence not having to move out or find another home. Avoiding Foreclosure If you need money quick, a cash buyer can clearly offer you the funds you need for any purpose. This is particularly true for failure to pay your mortgage, in which case, there is a big chance that your home will be foreclosed. With a cash sale, you can get the money instantly, bypass deadlines and start on a clean slate. Accurate Valuations People often think that there’s a catch with outright cash purchases, but this isn’t true all the time. Buyers typically initiate valuations to ensure fairness for both parties. This way, you’ll be receiving your fair share of the property not having to wonder whether you could have sold the property at a better price from the other buyer. Expediency Cash buyers are mostly well-rounded when it comes to the process of buying property, having all the essential qualifications to seal the sale as quickly as possible. This keeps you from having to pass through an extensive process, skipping some of the most common problems related to this type of transaction.