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 cash would you receive from a sale that is finished quickly and has none to do with typical loan processing woes?
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 leads us to one question: Why should you get a cash buyer for your house? What are the key benefits you can get by taking this route? There may be so many out there, but basically, you’ll want a cash sale transaction for three very good reasons.
1. It is less likely for a sale to fall through.
It is often frustrating to negotiate and go back-and-forth with a buyer until you actually on a particular price. Of course, this happens after you have showed the property and answered tons of questions from the prospective buyer. 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. With a cash deals, there is simply no room for a hassle like this. Credit and loan qualifications become irrelevant. Hence, selling your house for cash means you can avoid having a buyer back out at the last minute.
2. Timing is favorable.
Four to seven weeks is the usual timeframe for a deal to close with financing, and that’s already considered a fast one! Some cases take much longer. A cash sale, on the other hand, can be concluded in as short as four to seven days. A huge advantage of selling for cash is that it helps you keep the process process short. 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. It’s their way of making sure that they can recover the cash they lent in the event that the buyer fails to repay the loan. In other words, you need to get an appraisal which costs you time and money. However, when you sell for cash, the buyer will be the one to assess the property and they will pay whatever you agree on.