If you think getting paid in cash for your house is impossible, think again. Cash-only transactions are even growing in popularity, and behind them are perfectly legit investors who buy and sell properties for profit.
Below are the main advantages of selling your house for cash:
The transaction closes faster. Cash-only transactions are the fastest you can get when it comes to selling a house. Once you and the buyer have set a price, you only have to wait for the paperwork and the payment can be transferred to you. This can all occur within one or two weeks, depending on the details involved.
You can be assured of a close.
Traditional buyers may make you feel like they are very sure about buying the property, but there’s no telling what issues may crop up during the transaction. Their loan application may be disapproved, for example, or they may simply change their mind after finding another house that they like better. This can be totally frustrating, but you can steer clear of this scenario by choosing a cash buyer. Again, once you have agreed on a price, it’s all systems ago.
You could be given a rent option.
What’s great with cash-only buyers is that they explore other ways of gaining profit besides just selling the property. They may, for example, let you rent it so you don’t have to go through the trouble of finding another house and settling in. This can be a big convenience for you, especially if your family includes small kids.
It helps you with an impending foreclosure.
If you want cash ASAP, a cash buyer can obviously give it to you. This can be particularly helpful if your house Is facing foreclosure. A cash buyer can help you beat deadlines and start a new life clean.
You can expect an honest valuation.
In most cases, buyers instigate valuations so that fairness can be ensured in terms of the property’s cost and market value determination. This means you won’t have to worry about another buyer possibly giving you a better deal.
The transaction is convenient and efficient overall.
When people choose cash-only buyers for their homes, it’s usually because they need a speedy transaction. The good news for them is that cash buyers want the same. After all, they’re in business for the profit. The faster the transaction concludes, the sooner they can begin working on it and making money out of it.