What are the pros of selling your property to a cash buyer? What are the advantages of selling your property to a cash buyer compared to other available options? This article discusses how convenient it can be to sell your home to a reputable cash buyer.
A foreclosure can damage your credit history. It can reduce your credit score by 300 points. Furthermore, you cannot purchase a new home for next seven years. The reduction in credit score can make it difficult to find new loans at an affordable rate.
A quick sale of your home can prevent foreclosure. To do so, you need a cash buyer who can buy your house as-is within days. You can avoid the foreclosure auction if a cash buyer agrees to purchase your home.
The Speed of Sale:
Like the foreclosure, life can present us with situations that need immediate action. Bankruptcy, probate, debt issues, divorce, illness, job loss, tax issues, and relocation are a few reasons you may have to sell your house in a hurry.
The traditional way requires you to stage your house and market it with the help of a realtor. That is the conventional method to sell a home. However, in this particular situation, you may not be able to wait for a few months. In fact, you may not be able to wait until the following week.
A trustworthy cash buyer can guarantee a fast sale in no time. Since the buyer pays cash, there is no bank involved, and there is no delay waiting for the mortgage approval.
Cash sales do not involve the need for repairs as the buyer agrees to buy your house as-is. That means you can sell your home even if it has structural flaws or the makeover does not appeal to the market. For these reasons, a cash sale is a convenient way to end your trouble.
In the case of relocation, you will pay two mortgage installments until your current house sells. In a matter of a few months, you can end up paying thousands of dollars in mortgage payments. This money is not going towards your home because of the amortization principal. However, you can save this amount by contacting a cash buyer as early as possible. The speed of sale and the ability to sell your house as-is can save more money than waiting for months.
A cash transaction can help you with relocation. First, the company will close the deal on a date of your choosing. You can move out whenever it is most convenient for you. Second, most cash buying companies can assist you as they have their team of contractors and providers to help you out.
In a conventional transaction, banks have full control over the deal. The property acts as the collateral. Thus, this security asset must pass the inspection and appraisal tests. According to Trulia, 3.9% real estate deals have been dropped at the last moment in 2016 because of financial and unreasonable inspection contingencies.
Do not let this happen to you. A successful sale occurs when the buyer gets the title, and you receive the funding. In a cash transaction, this scenario can be completed in a few hours. So there is no way for the customer to back out of the deal. However, in a typical transaction, you can lose your customer at the last moment. You will have to re-list your property and go through the painstaking process of finding another buyer.
The opportunity to sell your house as-is is a great way to get rid of a house you do not want. If you are ready to sell your property, contact a cash buyer. You will get your no-obligation free quote within 24 hours, and you can choose a closing date to sell your house.
Contact a reputable cash buyer to get started.