Selling a house, at the best of times, can easily take several months. Steps include listing the house and waiting for the right offer to come in, negotiating the terms of the contract, and scheduling an inspection and repairs. Sellers also have to wait for the buyer’s financing to go through, and that’s never a guarantee. So what can homeowners do if they need to sell their house fast? Fortunately, there is a solution: selling fast for cash.
Why Seek A Fast Sale?
According to the official site of one reputable cash buyer, homeowners seek a fast sale for several common reasons. In the case of a job transfer, for instance, a homeowner may only have a short time to relocate, and he or she may depend on the cash from a quick sale to purchase or rent a new home. A job loss can also prompt a quick sale in order to pay off a burdensome mortgage as quickly as possible. Finally, according to realtimecampaign.com, old homes or homes in poor condition may warrant a fast sale. It’s generally better to sell a house for cash if a house needs major repairs that the owner can’t afford to make.
What Is The Process Of A Quick Sale?
“Thinking of selling your home? Don’t wait”. Instead of spending months getting a house ready to sell and negotiating a contract, many homeowners consider selling their homes for cash. The process starts with a phone call to an agent. Based on the information the seller provides, the agent will conduct a quick property value analysis and make a cash offer. The seller will then receive a contract in the mail or by fax, and once the contract is finalized, a closing will take place within fourteen days. In urgent circumstances, sellers may be able to expedite the closing and complete the sale in less than a week.
Who Are Cash Buyers?
Cash buyers are typically investment companies like Meridian Trust that specialize in buying homes and either flipping them or renting them out. Because investment companies are already making money from their other real estate holdings, they can afford to pay cash for homes and make any needed repairs. These companies are especially interested in houses in attractive locations, near good schools, universities, shopping areas, or tourist attractions. However, most cash buyers say that they will buy any home, regardless of its condition or location.
Selling a home to a cash buyer is a good solution when homeowners need to sell in a hurry. While a cash offer will likely be below market value, a cash buyer will not ask for any repairs, and sellers won’t need to pay a commission to a real estate agent. A fast cash sale is also far more likely to go through without a hitch since the buyer doesn’t need to get financing from a lender. As long as the title is clear, sellers can look forward to getting cash for their home in a matter of weeks.