So, you want to sell your house but you can’t imagine that anyone would be interested in buying it. Maybe you inherited a property and have no interest in managing it. Maybe you had high hopes for a rehab project but found that it’s more than you bargained for. Whatever the case, you need to get rid of a less than perfect home, here’s why a cash offer is your best option.
Getting a cash offer on your home couldn’t be more simple. You may have already been contacted by investors, as they frequently look for properties to rehab and sell. Even if you haven’t you can go online and find a cash buyer that will come and look at your property. Usually these cash buyers are investors who are in a position to make you an offer right away. Once both parties agree on a price, then a contract will be written up and signed. The process is much like a traditional sale except that there is no financing done. Financing a home adds a few steps to the buying process that can be time consuming. With cash deals, investors know what they’re looking for and they won’t waste time with back and forth negotiating. They understand that you need to sell quickly.
Investors see past damage
Don’t worry about how much work the home needs. Cash buyers know that you’re coming to them because there is a substantial amount of work that needs to be done. Most of their sellers have run down or abandoned properties that they just have no interest in. They see your property’s potential and they will give you a fair price. When investors do this, it’s called flipping. Since there won’t be any banks involved an appraisal is not needed nor is an inspection however they might still have these done. This helps them to gage how much everything will cost so they can offer you an appropriate amount.
Cash offers always close faster because there are no lenders in on the deal. A cash offer closing could close as quickly as two weeks! The underwriting required in ordinary home sales can take over a month because the mortgage company wants to be sure that the buyer can afford the home. Additionally, sellers have a peace of mind knowing that the deal won’t fall through since there was a cash offer. As long as you work with a reputable cash offer company, you shouldn’t have any issues.
Owning a home that you can’t rent out or afford to fix up is a hassle. You’re throwing money away by paying taxes on a property that you’re unable to utilize. Consider getting a cash offer and free yourself from the burden.