Telltale Signs to Sell House to Cash Home Buyer
If you want to sell your house as fast as possible, then contacting a cash home buyer company will always be a viable option. It doesn’t matter what your situation is, you’ll find that this is a viable solution. However, this is more a better fit for people who need to sell their house compared to those who just want to sell it.
People have various reasons why they are selling their house but few of the common reasons why they arrive to such decision include selling the house fast to avoid foreclosure or repossession, the need to get money fast for reasons such as debt repayment, complete house purchase fast, relocation, inheritance, probate, code violations, permit issues, bad tenants, save on realtor fees and house needs repairs.
Obviously, there are benefits associated to selling house to such company similar to the fact that they can provide you with a speedy sale of property that can be done within weeks, cash buyers are not subject to issues that could affect the sale to residential buyer who is getting a loan and above everything else, the ability of selling the house in as-is condition.
Cash buyers are offering to buy your house fast. Oftentimes, you can sell the house within a week. When having a quick sale, what these cash buyers do is to offer the sellers a 65 to 85 percent of open market value. The open market value is simply the cost of the property that is expected to sell within half a year at the current market assuming that it’s in excellent and updated condition. The valuation is undertaken either by a nominated appraiser or by them personally. Usually, this is less than the real estate agent’s asking price.
Here is a common scenario between the cash home buyers and sellers which can give you better understanding. The real estate agent is going to advertise the house for 150,000 dollars while its open market value will be 140,000 dollars. If you talk to a cash home buyer, they will be offering it for 105,000 dollars. Offers made by cash property buyers may seem to be low. But most of the time, properties are sold on by them either via at auction or open market and still, at discounted price to market value to get a quick sale.
In addition to that, selling, financing costs and buying can be expensive. Cash buyers create a safety room for them especially for costs that fall between when they sell and buy. Keep in mind however that you should only consider doing quick sale to a cash buyer if its benefits have outweighed the pitfalls of selling it below the market value.