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Cash Buyer for Your Home? Why You Should Sell it ‘as is’

By Eric Giordano posted 04-13-2020 09:41 AM

  

Experts say that the only two events more stressful than moving are losing a loved one or getting divorced. Deciding to uproot your life and move somewhere else is a significant decision and not one to be undertaken lightly. Once you’ve chosen to do this, it’s likely that you’ll need to sell your home before you can buy another one.

A cash buyer is every seller’s dream. With the buyer not being dependent on finance from a lending institution, the process seems more manageable. Those who are in the know say that not only is a cash buyer a dream, they’re a gift as well.

Here’s why you should try and attract a cash buyer for your home.

The fall-through factor

If you’ve ever tried selling your house or know someone who has, you’ll know the excitement of getting a buyer who puts in an offer. It seems that the process is up and running, and you’re already looking forward to the next step. 

The days of having to keep your home immaculate for potential buyers to come around are over. Some sellers find it so thrilling that they start packing right away.

The problem is that a week later, you could find out that the people who made an offer on your house were unable to obtain financing from a lending institution. 

And where does that leave you? Back at square one, waiting for someone else to come and view the house. According to isoldmyhouse.com, when you use a bguyer like them, there’s no danger of this happening.

Speedy closing

Sealing the deal on the sale of your house takes far less time if you have a cash buyer. There’s no need to wait for banks and other stakeholders to complete the endless paperwork that seems to take forever to process. It moves from one person’s desk to another at an agonizingly slow pace, and no one seems to have any sense of urgency about getting it over and done with.

There is no waiting period for approval and signatures when you sell your house to a cash buyer. Instead, the transaction takes days rather than weeks or months.

The contingency conundrum

Many offers include contingency plans that are there to protect the buyer and the seller. However, they can prove frustrating when all you want to do is get the transaction done and dusted. So, you might have someone put in an offer to buy that will only be effective if they are able to sell their house.

For each contingency, there is a significantly greater chance of the deal falling through, leaving you to go back to the drawing board. Cash buyers don’t need to put contingencies in place, and they are generally as eager as you are to complete the transaction.

No repairs required

When you’re selling to a cash buyer, they usually want you to leave the house as is, so that they can renovate it themselves. Most cash buyers are house flippers. They buy homes, restore and repair them, and then sell them for a profit.

This doesn’t give you a free pass when it comes to disclosure. According to state mandates, you are still required to point out any faults or defects in the house so that the buyer knows what they’re getting.

Money in the bank

With a cash buyer, you’ll save some money on the sale transaction. Very often, you won’t work through a realtor, which saves you a small fortune in commissions and other fees.

Agents bring in broader exposure, but if you decide to not to use their services, that is also not a bad idea. All in all, the choice is yours.

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