If you think getting a cash payment for a house is too good to be true, think again. Cash-only transactions involve legit real estate investors who are in the business of buying properties and selling them for a profit.
Below are the main advantages of selling your house for cash:
The process is drastically faster. Cash-only transactions are undeniably faster compared to the conventional house-selling process. Once you and the buyer have set a price, you only have to wait for the paperwork and the payment can be transferred to you. This can all take place in one to two weeks, depending on how simple or complicated the details are.
A close is guaranteed.
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. Their loan application may be disapproved, for example, or they may simply change their mind after finding another house that they like better. This can be totally frustrating, but you can steer clear of this scenario by choosing a cash buyer. Again, as soon as a price has been set by both sides, it’s good to go.
You get a rent option.
What’s great with cash-only buyers is that they explore other ways of gaining profit besides just selling the property. For instance, they may let you rent it so you need not look for another house to move into. This can be a huge convenience for you, especially if there are kids in your family.
It helps you survive a foreclosure.
If you need cash fast, a cash buyer will obviously give you the money you need. This may be especially helpful if you failed to make your mortgage payments and your house is about to be foreclosed. With a cash buyer, you don’t have to worry about beating deadlines and starting a whole new life on a clean slate.
You get accurate an valuation.
In most cases, buyers instigate valuations so that fairness can be ensured in terms of the property’s cost and market value determination. This frees you of worries as to whether another buyer could have given you a better deal.
You can expect convenience and efficiency.
When people decide to sell their homes to cash-only buyers, it’s usually because they want the transaction to be completed as quickly as possible. The good news is that cash buyers want the same thing. After all, they do what they do for the profit. The faster the transaction concludes, the sooner they can begin working on it and making money out of it.