Why People Think Homes Are A Good Idea

Advantages of Selling to a Cash Buyer

Tops in the “advantage” list are speed of sale and convenience. As soon as you take a cash offer, you can usually receive your money in a matter of days. For people facing a relocation, foreclosure or bankruptcy, this could be a life saver.

Less sales fall through

A cash transaction also removes the very common drill of grabbing an offer only to have the other party back out unexpectedly because they couldn’t get a loan. The moment the cash is passed along, there’s no backing out or last-second cold feet. These cash transactions often close in a week or three as compared to some four to seven weeks on a traditional sale. As well, cash sales are often “as is,” so there’s generally no key repainting or repairs required.
Finding Similarities Between Sales and Life

Professional Advice
6 Facts About Homes Everyone Thinks Are True

Though you shouldn’t skip professional representation in a house sale except when you really know what you’re doing, there are undeniably fewer possible repercussions in a sell-by-owner cash deal. But if you decide not to use an agent’s services, it is completely up to you to accurately and fairly price your house.

Secure an appraisal and do a bit more research by yourself. Check the various listing services for comparative pricing. Also look into price adjustment records on similar area properties and time-on-the-market stats. Though the appraiser will likely do at least 3 such computations — based on recent sales — a wider data search can enlighten you more.

There are speed-sale real estate agents who will be able to help with documents and such, and do the brunt of their work by email or phone just to fast-track the process for you. They will either charge a predetermined fee or a smaller-than-usual commission. Because their work is to sell fast however, they may suggest a listing price much less than what you would be able to in the typical loan market.

Providing Safeguards

When you actually consider that cash buyer, you’ll need evidence of funds from them prior to agreeing to any deal. And keep in mind that cash-paying buyers seeking more contingencies for inspection, appraisal and the rest shouldn’t get a big discount and in a way of defeat the very purpose of cash sales.

Since many cash buyers plan to repair and resell such properties, you may be able to cut a short-term lease-back deal to stay in the home if that’s applicable to you. You can also give the new owner an income stream as they do repairs or take on other projects.

Certainly, cash is king in a real estate deal if you’re on the receiving end. You’ll likely get a little less cash from the house that way, but you can certainly costly repairs and other problems. As long as you’re not actually sacrificing thousands of dollars extra aside from the standard as-is price adjustment, it’s a decent deal for you.