Did you know that cash home sales make up about 36% of the market?
There are many reasons to sell your house fast. Maybe you’re moving and want to avoid having an empty home while you wait longer to sell. Or maybe you have had enough of the maintenance that comes with owning a house and want to walk away.
Whatever the reason, you’ll feel better knowing there is a sense of relief that comes from no longer being responsible for the property.
Accepting house cash offers is attractive because you do not have to go through the hassle of finding a real estate agent, contractor, or appraiser. There is a significant amount of debt that can be lifted from your shoulders if you decide to sell your home quickly to an individual who offers you cash.
These are the top reasons you would benefit by selling your home to an individual who makes you a cash offer.
1. Sell Your Home Quickly
With cash home buyers, you can sell your home in as little as 7 days.
If you’re getting a mortgage on another property and have to wait months for approval, this is a great way to get rid of your current property. You can move on without having to worry about paying rent or making mortgage payments on two properties at once.
2. Know Exactly How Much Money You’ll Receive
With potential house buyers, there’s no guarantee that the buyer won’t change their mind or walk away at the last minute. This leaves you with nothing after spending weeks trying to sell your property.
When you accept a house cash offer, however, there are no surprises. When the company you are selling to agrees on terms and conditions and signs off on them, the sale is final, and they will be ready to close as soon as possible.
3. Get Paid Faster
There is nothing more frustrating than waiting for a mortgage company to process your loan, especially if you need the money right away.
However, with a cash offer, you can get your funds in as little as 24 hours after closing on the deal. This is great because it means that you don’t have to wait months before getting access to the funds that you need.
4. You Won’t Need an Appraisal
One of the most common reasons buyers will have problems getting financing is because they don’t have enough equity in their homes. It is not uncommon for homeowners to have little or no equity when they sell their homes, especially if they have been living there for some time.
A house cash offer eliminates this problem because there is no appraised value involved in the transaction. The seller simply accepts an offer based on what they believe their home is worth.
5. Don’t Worry About Interest Rates
With a typical mortgage loan, you must pay several fees upfront or while obtaining financing.
These expenses can add up quickly and make it hard for people who are on a tight budget to get approved for a mortgage loan. By using cash offers instead of traditional mortgage loans, you won’t have to worry about these extra expenses because they aren’t required for these types of deals.
6. Avoid Closing Costs and Fees
When you sell your home with a traditional mortgage loan, there will be closing costs involved with the sale of the property. These fees include title insurance, legal fees, and other items that need to be paid by both parties involved in the transaction (buyer and seller).
You will also have to pay any taxes that are due on your home. If you accept house cash offers, then none of these fees apply because all parties involved in the transaction pay for them out of pocket instead of through their respective banks.
7. Skip Dealing With Unqualified Buyers
A good house selling strategy lets you avoid dealing with buyers who do not have good credit or enough income for a mortgage loan.
If you have bad credit or no credit at all and don’t want to take out a loan, then accepting house cash offers is one way around this issue because it allows you to sell your home without having a mortgage in place first. This will help keep things simple when it comes time to sell your home and get paid for it as well.
8. Avoid Foreclosure
Accepting house cash offers can help you avoid foreclosure on your property. If you have fallen behind on payments and are facing foreclosure, then accepting one of these offers may be necessary to save your home.
When an investor buys your home with their cash, they do not need to worry about collecting payments or dealing with foreclosure proceedings. They can help relieve some of the stress off of your shoulders while still getting paid for their purchase.
9. Less Stress
With a traditional sale, you must go back and forth with buyers regarding repairs and other issues that may come up. With a cash sale, you don’t have to deal with these concerns at all because there will be no repairs needed. You can simply move on with your life once the deal is closed.
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These Are the Benefits of Accepting House Cash Offers
What cash buyers offer is freedom for sellers.
When accepting house cash offers, there are no contingencies on the contract, such as financing, appraisals, and repairs. This means a seller can negotiate an acceptable price without having to tie up capital in a property or wait for an appraisal.
In addition, there’s no need for a costly loan closing since there are few lender requirements to be met before closing.
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