Why has selling to cash property buyers become so much more popular with homeowners today?
How much better is selling your house to a cash buyer than one that needs financing? What types of properties will they buy? Where do you find the best buyers for your property?
Selling a property has changed a lot in the past couple of years. There are much better options available to owners than ever before. It can make all the difference in the speed, stress level, and how much money you really get to put in your pocket when it is done.
Keep reading to find out why this is probably the best way for you to sell, and how to get the best deal.
Why Sell Your House For Cash
There are some very good reasons to sell your house for cash. That has become even more important over the last couple of years. In fact, many property owners may find it is the only way that they can really sell.
Selling Your House To Cash Property Buyers Vs. Financed Buyers
Selling properties to buyers needing financing is fraught with stress, uncertainty, extra potential costs, and plenty of sleepless nights. It is not a fun process.
If you’ve tried selling a property before you’ve probably already woken up to the fact that the ‘pre-qualification’ letters that banks and mortgage lenders throw around are worth even less than the pieces of paper they are printed on.
They are simply theoretical, that if the borrower told them everything, and the property matches up, and if the underwriter is in a good mood throughout the process they may loan them that much. More than anything, they are a tool for lenders to rope in buyers as potential customers.
They are often completely meaningless once an offer is made and the buyer makes an actual mortgage application for your property.
Once they do that a huge number of things can derail the transaction in the process, including:
Sadly, you usually don’t find out the deal isn’t going to close until the day before the scheduled closing. That can be months into the transaction. Then you have to start all over from scratch finding a buyer again.
There can also be title clouds, past due taxes and liens which cause problems for financing. If there are things the lender doesn’t like about the property in the inspection, they may want you as the seller to pay to fix them first. All without any guarantee of the loan being funded.
In other words, you are just going to have to spend weeks and maybe months just hoping everything comes together. It’s a luxury many sellers can’t afford. At a minimum it can prove to be very expensive for you, and very stressful.
You can’t really plan a move, your finances or the next chapter in your life until it is all done and the money is cleared and in your hand.
Cash Buyers For Residential Property
Finding a cash buyer for your own home is very important. You may have already moved out and need to get rid of that debt fast. Or maybe you need to move, but need the cash from that sale to move in somewhere else.
There are many scenarios in which lenders won’t finance certain homes too. This may include property damages and condition, pest infestations, potential for mold, a declining market, an association which isn’t financially strong enough, or the view of neighboring properties.
You can avoid all of these issues with a qualified cash property buyer.
Cash Buyers For Second Homes, Vacation & Inherited Properties
Properties that are outside of your immediate area can be extra challenging to sell.
It probably doesn’t make sense to spend enormous amounts of money and time flying back and forth to try and show the property to buyers. Especially, when many may not even be serious.
You probably can’t keep up with cleaning, repairs, or may have items in the house that need to be packed and shipped out.
When situations like COVID come along you may not even be allowed to go there.
Fortunately, the best cash buyers can still purchase your property in these situations. They will work with you on these issues. They may even be able to help with arranging a professional service to pack and ship your belongings.
Cash Buyers For Commercial Property
Commercial properties have traditionally taken a very long time to sell. They have very long financing and inspection times. It is not uncommon for it to take three months or more for a closing to a financed buyer, after you sign a contract. They often require multiple appraisals and environment inspections.
A cash buyer may waive all of these items and be able to close in just a week.
Cash Buyers For Rental Properties
Rental properties have become a nightmare in the new normal. Tenants have no incentive to pay the rent. Often they cannot be evicted and the rent cannot be raised.
It's unlikely lenders are going to want to take on that risk. Regular home buyers aren’t going to buy if they don’t know if they’ll ever be able to move into that property, or what condition it will be in if they can ever get those occupants out.
Professional cash property buyers are experts at handling these situations and are willing to take on those risks and hassles that others won’t.
Why Sell Your House To HomeCash
HomeCash was created to help property owners like you skip all of the uncertainty, stress and sleepless nights, and just get your property sold fast.
We don’t require all of those things that banks do. We can get you from an accepted offer for your home, to closed and cash in your hand in as little as 7 days.
We’re ready to provide you a free no-obligation cash offer for your home right now.