If you have decided to sell your house, you will soon get to hear about “cash home buyers.” Perhaps you may be confused about what the term means if it is your first time hearing it. You may be wondering if it’s a good idea to sell your property this way. This article will help you understand what a “cash home buyer” is and why you may consider selling to one.
Who is a cash home buyer?
When we talk about a “cash home buyer”, what we have in mind is a person or a company who can purchase your property outright using funds they already have at their disposal. This means they will not have to secure a loan or a mortgage in order to buy your home. Importantly, the buyer must actually have the money within their reach or instantly available to them when they make an offer on your house to be considered as a cash buyer.
Therefore, if a buyer is waiting to sell another property to fund the purchase of your home, or does not have instant access to money from other sources, it means they don’t have the cash in hand and they are not cash buyers.
Reasons to consider selling to a cash home buyer
Below are some of the great benefits you enjoy when you sell your home to a cash buyer:
All overview of Blairsville Georgia real estate home sellers look want to be able to close the sale as soon as possible. Unfortunately, this is not always possible. More often than not, it takes several weeks or even months to close the sale. If the buyer has to apply for a loan or a mortgage, the process takes time, delaying the sale and ultimate closure of the deal. It is the same when a buyer has to first sell another house to get funds to buy your home.
However, cash home buyers, such as Home Flippers, can close the sale faster, and you could get your hands on the cash within 7 to 14 days. Removing lenders and other parties from the sale expedites the deal significantly.
Some cash home buyers buy your house as-is without requiring you to repair or renovate it. This saves you repair and cleaning costs. You also don’t have to involve a real estate agent because you invite potential cash buyers to make their offers. You can decide to accept the best one, having factored in other considerations. Due to the costs avoided, you may realize a better sale amount because the selling costs often eat up a significant chunk of the proceeds of a sale and check Springbok Properties reviews site.
Less chance of the sale falling through
Selling to buyers who rely on loans or mortgages poses a risk of the sale falling through midway, forcing you back to square one. The lenders may deny the buyer’s loan application, or the buyer may find a better house or change their mind.
Fortunately, when selling to a cash home buyer, there are fewer chances of the sale falling through. Once you accept the offer, the buyer starts the paperwork and the process of finalizing the sale starts immediately. Within two weeks, it is most likely closed.
Selling your home to a cash home buyer is a good option because it makes it possible to close the sale faster. Thus, you get the cash quickly. You also incur fewer costs and there is a lower risk of the deal falling through.