The Advantages of Selling Your House for Cash
A cash buyer is a buyer who can pay for your property without having to get a loan or mortgage. It can be a smart move if you want or need to sell quickly and trouble-free.
Below are the major advantages of selling your home for cash:
Less Chances of Falling Through
Several house sales fall through when the prospective buyer is unable to source financing. Even with an agreement in principle in place for an applied mortgage or loan, the lender may still decide to withdraw for whatever reasons. Should the sale fall through, the house seller then has to look for a new buyer, and the stressful process starts again. A cash sale, in contrast, is just about confirmed. In most cases, the only time such a transaction fails is when the buyer discovers major legal problems concerning the property, which the seller had purposely tried to conceal.
Orthodox sales mostly call for a long and intricate process, in which a number of people in the chain play a part for the transactions to go smoothly. With a cash buyer, this issue is totally non-existent. A cash sale is more direct by a mile, meaning, payment may be made the moment all paperwork is in place.
No Renovation Costs
Another great benefit with a cash house sale is that there is no need to renovate the property just to make it more attractive to the market. That’s because cash buyers have no care at all regarding the structure itself – they will fix it how they want to anyway. They are more concerned about the location and the property’s profitability. That means the seller can proceed with the sale without spending a significant amount of money. Sometimes, the buyer will cover even the smaller costs associated with property sales, including attorney fees, inspection fees and the like. Hence, the asking price in a cash house sale if often lower than usual, but that is, of course, understandable and expected.
Finally, perhaps the best thing regarding cash house sales is the profit from the sale goes to your profit ENTIRELY! That’s true. No agent or realtor to pay commissions because, after all, there are no middlemen in the transaction – just you and the buyer. Of course, the full amount that you ask for your property is fully yours!
Then again, cash buyers can vary widely among themselves. Some are more professional, easy to deal, and honest than the others. So before you choose one, do your research. What’s great is that you can do this in mere nowadays – get online!