Real Estate Today

Real Estate & Real Estate Investing

RSS Feed

Selling Your House To A Cash Buyer

Comments Off
Posted by Anne L. on February 18, 2018 at 10:55 am

These days it’s becoming more popular of people selling their homes themselves. Many times these people choose to sell their house to a cash buyer. Usually this is because the house is in need of extensive repairs or updates and can’t get a buyer the conventional way of going through a realtor. Other times people are in desperate need of funds and need to sell their house fast for the cash. But how do you go about selling your house fast for cash, and how do you know you are dealing with a reputable company?

Advantages Of Selling To A Cash Buyer

The one big down side of selling to a cash buyer is that you more than likely won’t get top dollar. So why would someone sell their house to a cash buyer? There are a few good reasons.

The first one is that cash sales rarely fall through. One thing that is in most contracts when selling a property the conventional method is a “buyer mortgage contingency”. This basically states that if the buyer can’t qualify for a loan they can get their earnest money back and not complete the sale. This often leaves the seller having to start all over again – open house showings,  finding a buyer and price negotiations. This can be very time consuming and stressful to sellers. This is avoidable by using a cash buyer because there is no mortgage.

Next there is the speed of which that sale can happen. The speed of which a sale can happen was covered in this article –

Speed of the Sale

Instead of waiting for someone to make and offer and hoping that everything goes well with the sale, a cash sale is much faster. Once a cash offer is accepted for the home, you can get the money for your home in as little as a few days. When you’re facing financial difficulties or you need to sell your home quickly to relocated, the speed of the sale can be essential. When you sell you house for cash, you will be able to get the money that you need in time to avoid financial problems or be able to relocate and buy a new home quickly.

Continue reading the article ‘ADVANTAGES OF SELLING A HOME TO A CASH BUYER

The convenience is another big issue for a lot of sellers. Your house more than likely needs painting, carpeting and all kinds of other little items that need to be repaired or replaced before selling. Not having to pay out all of that cash for repairs before hand can be very appealing. Another thing that we should add is that by selling to a cash buyer you don’t have to be concerned with keeping the house clean all the time for showings.

Make Sure You Are Dealing With A Reputable Company

As with anything you must protect yourself and make sure you are not going to get scammed. This is especially true with one of the largest purchases you make, your home. There have been countless stories of people getting scammed when selling their house for cash. You must make sure you are dealing with a legitimate company. So how do you do that?

First is how do they communicate? Do they always answer the phone, or quick to call you back? Do they even have a phone number? One of the best things we can suggest is to do an internet search on the company. How are their reviews? Do they have a website? Can you easily find who the owners of the company are? These are all things that you should check and should be able to find an answer for. If not – seller beware!

Some additional things to look for when selling a house to a cash buyer –

Check Rendered

In virtually all cases of fraud where a home was paid for in cash, the buyer rendered a check. The seller or real estate professional accepted and deposited the check. The buyer changed his mind and asked for a refund. The seller or real estate professional refunded the amount of the check. Later, the buyer’s check did not clear the bank, and the seller or real estate professional was out the entire amount. The lesson learned is to never refund cash for a check until the check clears the bank.

Site Unseen

Another situation that throws down a red flag is when a buyer doesn’t need to see the property. That doesn’t necessarily mean the buyer is a scam artist, but it’s a good up-front indicator. Proceed cautiously when a buyer passes on viewing the property.

See the full article ‘Things to Watch When Selling a House for Cash

We highly suggest that you read that full article to learn more about what to look for when selling to a cash buyer. We also suggest that no matter what you involve an attorney to check all the legal documents.

Conclusion

Selling to a cash buyer has it’s advantages, and it disadvantages. The greatest disadvantage is that you won’t get top dollar, but if your property is dire need of repairs this shouldn’t be an issue. The advantages are fast closings and limited showings as well as a quick sale. Above all, you need to make sure that whatever company or individuals you are selling to are legitimate and aren’t trying to scam you.

Learn more about selling your house to a cash buyer from these articles –

There are plenty of good reasons to sell your home for cash

Who Will Buy My House For Cash?

How to Sell Your House for Cash

Filed under Real Estate News
Tagged as
Both comments and pings are currently closed.
May 2018
M T W T F S S
« Mar    
 123456
78910111213
14151617181920
21222324252627
28293031  

My Other Profiles