Would you like to sell your home fast for cash?
Who wouldn’t. But some home sellers are either uninformed about the ins and outs of a cash sale or they are reluctant to do so. Here are the benefits of selling your house for cash you may wish to consider.
No Loan Qualification. Let’s face it, in the aftermath of the mortgage bubble burst, qualifying for a mortgage has become far more difficult. Banks have tightened their lending parameters, requiring higher credit ratings and greater percentages of down payments. New and tougher regulations add red tape to the process. The bottom line is that fewer potential buyers can qualify for a loan, reducing the odds of your house selling and selling quickly.
Cash investors do not need to qualify for a loan. They have the money and are ready to buy now. No need to wait for the qualifying period and no risk of a sale falling through due to an individual buyer’s inability to meet the lender’s requirements.
Fast Close. In addition to eliminating time needed for a loan qualification, cash buyers typically forego the appraisal phase, which saves additional time and avoids the possibility that the appraised value will not be high enough to meet a bank’s strict requirements.
Cash investors are generally very knowledgeable concerning the real estate market. Their knowledge and expertise in areas such as short sales and foreclosures can speed up what has become a lengthy process.
No Realtors. With a realtor out of the picture, home sellers can save thousands of dollars in commissions. As mentioned earlier, real estate investors are quite knowledgeable and understand as much if not more than a realtor about buying and selling homes and the associated legalities, paperwork and transaction obligations.
No Out-of-Pocket Expenditures. Upgrades and renovations can cost a lot of money. They also take a lot of time to complete. Cash investors want to close the sale fast. They frequently will purchase a home “as is”. Because they have the capital, crew and market expertise, they often prefer to purchase “as is” and perform upgrades and renovations themselves.
In a real estate market with tight lending constraints and prohibitive regulations, many potential buyers simple cannot enter the market. As a result, selling a house has become more difficult. Cash investors save sellers time, money and hassle by eliminating the middleman and allowing homeowners to save on commissions and the costs of repairs, upgrades and renovations. Portland homes, for example are selling quickly. In increasing numbers, those fast sales are for cash.
What benefits do you see in a cash home sale?
Do you have a piece of property (house, lot, or land) you’d like to sell fast? Fill out our Sell Fast Form and get a cash offer within one hour of us viewing the property.