Reasons to Sell Your House to a Cash Buyer
Selling your property to a cash buyer can appear to be too good to be true, but the reality is that there are really buyers nowadays that engage in cash only transactions. 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.
But why should you sell your home to them in the first place? Below are some very good reasons:
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There is no doubt that cash-based sales are faster to complete. The moment you and the buyer arrive at an agreement, it is all a matter of documentation and forwarding 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 conventional purchase where buyers still have to apply for a loan, the process can be a whole lot longer.
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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 very frustrating for you, the seller. With a cash buyer, the deal is sealed the moment intent has been conveyed.
The good thing about cash buyers is, when they buy a certain property, the purpose is actually to sell it or get a profit through some other means. For some sellers, this may mean enjoying the option of renting their previous property, therefore not having to move to another home.
If you need money fast, a cash buyer can obviously provide you with the funds you need for any purpose you might have. 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 transaction, you can receive the money quickly, beat deadlines and begin on a clean slate.
People tend to think there’s a catch when it comes to cash purchases, but this isn’t the case all the time. Buyers usually initiate valuations to make sure they are fair. That means you’ll be getting your fair share of the property instead of wondering whether you could have sold it to the other buyer at a greater price.
Cash buyers are generally well-rounded in terms of the house-buying process, having all the crucial qualifications to conclude the sale as speedily as possible. This lets you a traditionally extensive process, bypassing some of the most usual issues related to this kind of transaction.