Cash House Buyers- Who Are They and Who Can They Help
When planning to sell your home , you want it off the market and sold within the shortest time possible. Luckily, one of the quickest ways to do so is by selling your home to cash house buyers. This means that you won’t have to wait for the buyer to acquire a loan before buying your home.
Who are Cash Buyers And What Do They Do?
A cash house buyer is someone who buys a home with cash. They either have the cash themselves or they use other “informal lenders” such as a bank line of credit, partner or a mixture of both. They aren’t like traditional buyers where they have to wait for loan approval.
The buyer doesn’t need to pay for the house, like a traditional house buyer does. Some of them buy for air BNB while others buy for flips. A buyer that pays with cash has the money ready for the transaction. In short, it’s someone who has readily available cash and wouldn’t waste time to buy your home.
Benefits of Selling Your Home to Cash Buyers
Well one of the first benefits of selling your home to a cash house buyer would be No Commissions
There are no fees involved when selling your home for cash. You keep all the money from the sale without incurring extra charges. It saves you thousands of money. This is an ideal step since commission can be high whether your real estate agent markets your home or not.
High Chances of Closing the Sale
Selling a home is never easy. There can be several things that might make the entire process challenging. However, when you decide to sell your house for cash to a cash house buyer, you can be sure of fewer chances of a failed sale. Pretty much unless the house burns down would be one of the only reasons the house didn’t sell.
The cash buyer will help you sell your house now because they don’t have to go through a long process. Typically when you have a traditional buyer the process can take 30-45 days. But cash house buyers will do everything possible to ensure that you sell your home within the shortest time. Once they buy your home, you won’t have to worry about returning the money and canceling the deal. Once cash home buyers purchase your home, the deal is closed. You pocket your money and move on.
Benefits Of Selling To Cash House Buyers-Sell Your Home As-Is
Traditionally, a home buyer will not purchase your home with unfinished work. You need to do repairs and clean your home to attract a buyer. Sometimes, after a home inspection, the potential buyer will still find some mistakes and expect you to do more repairs before closing the deal. This can be so frustrating, especially when you do not have money for the repairs.
Luckily, you do not have to go through all that when you decide to sell your house to cash house buyers. The cash buyers do not require you to repair or clean your home. They aren’t interested in a presentable home, and that’s why they can buy your house as-is. They tend to see things through a different lens that traditional house buyers.
You won’t have to worry about doing repairs repeatedly after home inspections since cash buyers are determined to make the necessary repairs after purchasing the home. If you do not have money and time for the repairs, selling your home in cash is the best option for you.
Cash House Buyers Near Me- Do They Help With Foreclosure?
They can certainly help you to avoid Home Foreclosure. They can usually buy your house within days of your actual foreclosure date.
Homeowners face home closure when they fail to pay back a mortgage as expected by the lender. In this case, the lender can decide to repossess the home, causing you to incur more losses.
Even though you can negotiate with your lender on the repayment terms, it can be a frustrating experience. If your home is facing a foreclosure, the best option would be to sell it to cash home buyers and avoid long battles with your lender. Once you sell your house to the cash house buyers, you can clear your mortgage and start over again like it never even happened.
Get Rid of Unwanted Homes
Sometimes, a homeowner can get bored with the home and decide to sell it unexpectedly. It could be an inherited property from a relative or an old house that no longer fulfills your family needs.
Such homes can be the most difficult to sell because they can involve very complicated processes, especially when under a divorce, job changes, or when the landlord is just tired of the property. Or if they just recently inherited a house with a lot of repairs needed on the house.
The homes can quickly depreciate when left unattended for long, leading to a low sale. However, instead of folding your hands back and waiting forever for a buyer, you can choose to sell your house to cash house buyers that are usually always active and looking for homes, and get it off the market within the shortest time possible.
Saves You Time
Even though agents are readily available to help you sell your home, it can be the most stressful and time-consuming process. Maybe, you just got a new job in a new location and would like to sell your home within a few days. When dealing with an agent, it becomes almost close to impossible since realtors take a long process and more time to close the deal.
Another thing you’d battle with when selling your home is the back-and-forth from the realtors. Some buyers will agree with the deal, while others will not. This can take you more time as your realtors find a better buyer.
However, the beauty of selling your home on cash is that there are no long processes involved. For instance, since you do not need to repair or clean the house, you can wake up one day and decide to sell it to a cash buyer. You can be sure that you’ll have your money within a few days.
It is a Convenient Process
Selling the home can be inconveniencing when you do it the traditional way since you have to deal with many things that can take off your time from your busy schedule. When you decide to sell it to a cash buyer, you don’t have to manage the process.
It’s a stress-free process that enables you to sell your home without undergoing so many hustles. This can be time-consuming, whether you have busy schedules for other activities or not.
The Process is Simple
Selling your home to a cash buyer can be a simple process. It only takes a phone call to discuss the sale proceeds where the buyer gets the necessary information about your property. It could be the type of neighborhood, your property value, and the value of other homes within the area.
After the discussion, the buyer can choose to come and see the property. Most of the time, the buyer will have cash at hand and ready to close the deal, or you can wait until they call you back within few days and give you an estimate of their best price.
If you agree with the price, you can move on and close the sale within a week. The process is usually transparent and straightforward to protect the interest of both parties.
No Paperwork Required
Paperwork is never fun when selling your home. If you work with a real estate agent, you’ll have to read through many paragraphs before signing the papers. Not to mention the mistakes you’re likely going to make due to the high volume of paperwork involved. These mistakes can cost you and frustrate the process.
That’s never a worry when you choose to work with a cash house buyer. You do not need to read and sign through a high volume of paper since the cash buyer deals with all paperwork without involving you.
No Marketing and Showings
Some homeowners cannot find potential buyers without marketing their homes. This can be the most challenging time to convince the buyer that the deal is good for them. The process can be expensive and time-consuming, especially when you have other important things to do.
When you sell your home to a cash buyer, you don’t need to worry about marketing and showings. Once you express your interest in selling your home, you only need to make one or two phone calls to close the deal.
The Bottom Line
If you have been struggling with selling your home the traditional way, you can always change your mind and get a cash buyer to ease the process for you. The benefits above show that selling your home on cash has a lot more to offer. It can be the most stress-free process to sell the house within a short time.