After finally saving up enough money to use as a down payment, I decided that it was time to hit the market. I met with a lender, got pre-approved for a loan, and then started visiting different properties. However, I quickly realized that I didn't know as much about real estate as I would have hoped. I wanted to find a great neighborhood and know what to ask the professionals, but I could tell that I needed a little help. To point me in the right direction, I started working with a great real estate agent who was familiar with the area. This blog is all about educating the general public on real estate matters.
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Are you a seller looking for a home buyer? A cash home buyer saves you time and increases the chances of closing the deal. Essentially, cash home buyers will have the money needed to buy a property by the time they put in an offer. Thus, they do not need to qualify for loan financing to purchase your house. This post highlights the benefits of selling a house to a cash home buyer.
Primarily, it is easy to close deals with a cash home buyer than a mortgage home buyer. Usually, the process of buying a home in cash is very straightforward. The buyer will assess the property, conduct an inspection, and seal the deal if they like what they see. Oftentimes, a cash home buyer will also avail the money immediately. In contrast, a mortgage home buyer is likely to delay the transaction due to the loan application processes. Moreover, loan financiers can further complicate the process by introducing their appraisers and inspectors into the process.
Eliminate Mortgage Risks
The mortgage process is a major contributing reason for failed house sales. In most cases, the potential home buyer is unable to secure the mortgage financing. Even if the buyer pre-qualifies for the mortgage, the lender may still find a reason to reject an application. For instance, a mortgage financier would never approve a loan on a home if the appraiser determines that the home price is higher than the appraisal value. Thus, when you deal with a mortgage-financed buyer, you are never sure if the borrower will qualify for the loan. In comparison, the decision and ability to buy a home for a cash buyer does not depend on a lender.
Negotiating for a home property is much easier when you sell to a cash home buyer. Typically, the negotiation process can be complex and draining. Usually, there are bargains, offers, and counteroffers that stretch the process. However, a typical cash home buyer is likely to offer a firm offer, which you can either accept or deny. More so, cash home buyers have low price sensitivity due to their ability to pay. Therefore, you can avoid time wastage and negotiate for a better offer by giving cash offers.
Quick Fix to Problems
Selling your home to a cash home buyer provides you with a quick solution to overcome a pressing need. Several situations may require a rapid closure for a home sale. For starters, you may need to relocate quickly due to work reasons. Or you may be going through a divorce and need to sell the house and split the proceeds. Again, you could be in serious debt that requires liquidating your house. Or perhaps the house may be draining you financially due to maintenance costs. In such scenarios, it makes sense to sell your home quickly on cash and move on.
There is no simple answer on whether you should sell your home to a cash or mortgage buyer. However, selling a home to a cash home buyer increases the chances of close the deal with ease and get immediate payment.
For more information about cash home buyers, contact a company, such as 123 Cash Offer, to learn more.Share