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 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 must you sell your house for cash? What are the major benefits offered by this option? 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 comes after showing the house and addressing endless questions from the interested buyer. In short, you’ve worked much to close the transaction until you learn that the person’s loan application was disapproved. Suddenly, they announce that their credit isn’t good enough for purchasing your property. This can be devastating. Cash deals leave no room for hassles like this. 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.
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 will drag on for a whole lot longer. A cash sale, on the other hand, can be concluded in as short as four to seven days. A big advantage of selling for cash is that it helps fast-track the process substantially. Everything is smooth-sailing and trouble-free, and next thing you know, you’re receiving your payment.
3. It’s easier to sell “as is” properties.
Selling to a buyer who requires financing will put your house under the scrutiny of the bank or lender, as they have to ensure that the money they put up for the loan is just right for the property. They need to ensure that if they have to foreclose on the property, they will be able to sell it and recover the money they loaned. Hence, you must get an appraisal, which is not only expensive but time-consuming as well. However, when you sell for cash, the buyer will be the one to assess the property and they will pay whatever you agree on.