Cash Home Buyer – When You Should Consider Selling Your House?
If you want to make a quick home sale, then it will be a good idea to contact a cash home buyer company. 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 do offer to buy your house fast. It typically takes a week to complete the sale with them. When having a quick sale, what these cash buyers do is to offer the sellers a 65 to 85 percent of open market value. For those who don’t have an idea on what an open market value is, it’s simply described as the property cost that can be sold within 6 months at the current market if it’s in good and updated condition. The valuation is undertaken either by a nominated appraiser or by them personally. Often, this is less than the price asked by your real estate agent.
Here is a common scenario between the cash home buyers and sellers which can give you better understanding. So the real estate agent will advertise your house for a price of 150,000 dollars while the open market value is 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 more often than not, the properties sold by them are at auction or open market and still, it’s available at discounted price in an effort to get a quick sale.
Also, let’s face the fact that it can be costly to buy, sell and finance. In an uncertain market, cash buyers will create a safety room for costs falling between when they sell and buy. A quick sale to cash buyers must be considered where benefits of doing a quick sale have outweighed the drawbacks of selling it below its market value.