Envision how much more convenient it would be to sell your home for cash rather than going through the trouble of a conventional sale. How much more profit would you be able to pocket form e a sale that concludes faster and avoids loan processing complexities?
Like some people, you may think that selling your house for cash is hardly possible. But even with cash purchases on a decline, they are still a good one-third of all home purchases in the United States.
That brings us to one 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 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’ve put in a lot of work closing the deal and then the news hits you – the person has failed to qualify for a loan. At the last minute, they inform you that their credit isn’t adequate for the purchase of the house. This can be devastating. With a cash deal, you can avoid this fix altogether. Credit and loan qualifications become irrelevant. Thus, if you sell your house for cash, you can avoid last-minute notices of a buyer backing out.
2. Timing is flexible.
When it comes to closing a deal with financing, the fastest is four to seven weeks. Some cases will drag on for a whole lot longer. On the other hand, a cash transaction can close in four to seven days. A huge advantage of selling for cash is that it helps you keep the process process short. Things couldn’t be smoother and before you know it, your money is already in your hands (or bank account).
3. It’s easier to sell “as is” properties.
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.