Imagine how much easier it would be to sell your house for cash instead of dealing with the complications of a traditional 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 presents one important question: Why choose a cash buyer for your home? 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. Less sales fall through.
It is usually so frustrating to negotiate with the buyer until you come to a price you both agree on. Of course, this happens after you have showed the property and answered tons of questions from the prospective buyer. In short, you’ve worked much to close the transaction until you learn that the person’s loan application was disapproved. Unexpectedly, they tell you their credit isn’t good enough for buying the house. This news can be crushing. Cash deals leave no room for hassles like this. Credit and loan qualifications aren’t part of the equation. Thus, if you sell your house for cash, you can avoid last-minute notices of a buyer backing out.
2. Timing is favorable.
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 take much longer. In contrast, a cash deal can be done within four to seven days. A big advantage of selling for cash is that it helps fast-track the process substantially. Everything is smooth and hassle-free, and before you know it, you’ve got your cash.
3. It’s easier to sell “as is” properties.
Selling to someone who needs financing means the bank will check if your house is worth the loan amount sought by the buyer. 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. 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.