Three Main Advantages of Selling Your House to a Cash Investor
Imagine how much easier it would be to sell your house for cash instead of dealing with the complications of a traditional sale. How much more profit would you be able to pocket form e a sale that concludes faster and avoids loan processing complexities?
You may think it hardly possible to sell your house for cash. But while cash purchases may be declining a bit, they are still behind a third of all home purchases in America.
That presents one important question: Why choose a cash buyer for your home? What are the most important benefits of going this route? There could be a lot, but essentially, there are three crucial reasons you’ll prefer a cash sale transaction.
1. It is less likely for a sale to fall through.
It is usually so frustrating to negotiate with the buyer until you come to a price you both agree on. Of coruse, this of course following the house showing and answering of unending questions the potential buyer may have about the property. In other words, you gave it your all trying to close the transaction, only to find out that the person did not qualify for a loan. Unexpectedly, they tell you their credit isn’t good enough for buying the house. This can be devastating. Cash deals leave no room for hassles like this. Credit and loan qualifications have no place in the equation. Hence, selling your house for cash means you can avoid having a buyer back out at the last minute.
2. Timing is flexible.
In terms of closing a deal with financing, four to seven weeks is already the fastest anyone can go. Some cases will drag on for a whole lot longer. In contrast, a cash deal can be done within four to seven days. A big advantage of selling for cash is that it helps fast-track the process substantially. Everything is smooth-sailing and trouble-free, and next thing you know, you’re receiving your payment.
3. “As is” properties are easier to sell.
If you sell to a buyer who needs financing, the bank will want to make sure that the house is worth the amount they provide through a loan. They want to be sure that if the buyer fails to repay the loan, they will be able to recover the money they loaned by selling the house. Hence, you must get an appraisal, which is not only expensive but time-consuming as well. If you sell for cash though, you won’t need an appraiser because the buyer himself will be appraising the property, and you can negotiate until you agree on a price.