A cash home buyer is an entity that will not rely on mortgage to purchase your home; the entity will buy the property by paying cash. It is easy to work with such buyers as the long process of getting the mortgage loan approved is not present in their case.
Now the question is: why a smart seller will work with cash home buyers? The answer lies in the cons of traditional ways of selling home. The process that work for one may not work for the others; also, the needs and requirements change with time and situation – modern home owners want to sell their properties fast before the value decreases further. Traditional processes of selling houses may not be suitable for them. Let’s learn more about it:
Publish Ads on Local Newspaper – No guarantee how long will it take:
No one can say how long you need to wait if you rely on this method of finding a buyer. You publish an ad, people start calling you and few come to visit the property. Those who express interest then apply for mortgage loans. It was easy to qualify for mortgage loans in past, but now banks have introduced stricter rules. Hence chances are a low percentage of individuals who showed interest to buy your house, would get through. As a result you need to wait long to find a buyer.
Contact Property Agent – Expensive but deal is not guaranteed:
No doubt that it is one of the popular and widely accepted method homeowners go for when it comes to sell houses. A reputed estate agent can help you get in touch with the prospective buyers, but if the housing market is low and it is difficult to qualify for mortgage loan, their success rate also goes low. A person, who is anticipating home repossession, cannot depend on a property agent. If, a property agent manages to help you sell the house, they take a part of the price as service charge.
Cash Home Buyers – The best alternative
Cash buyers do not depend on mortgage; they are investors with adequate money in hand to buy your house. They will purchase your house within 7 to 10 days maximum. As a homeowner, you do not need to renovate your home, nor do you need to pay them a commission as you are directly dealing with the buyer without involving a third party.
Once you agree to work with the cash property buyer, they evaluate the property and send you a formal proposal. You can accept or reject the offer. If you accept they continue with all the legal processes and formalities and close the deal fast.
Isn’t it a smart process to sell off your home quickly?
