Telltale Signs to Sell House to Cash Home Buyer
If you want to make a quick home sale, then it will be a good idea to contact a cash home buyer company. This is regardless of your situation. This is however more beneficial for those who need to sell their house than just those who wanted to sell it.
People have got different reasons for selling their house but some of the top reasons for this includes the need to sell house fast to avoid foreclosure or repossession, need to get money fast for reasons like debt repayment, complete house purchase fast, probate, inheritance, relocation, code violations, permit issues, bad tenants, financial trouble, house needs repairs, and to save on realtor fees.
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. For a straightforward quick sale, cash buyers normally offer sellers roughly 65 to 85 percent of open market value. Open market value is basically the cost of property that can be expected to sell within half a year at current market if it’s in excellent and updated condition. When it comes to the valuation, the company sometimes does it on their own or they’re hiring an appraiser. 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. The house has an open market value of 140,000 dollars while the real estate agent will be advertising it for 150,000 dollars. If you talk to a cash home buyer, they will be offering it for 105,000 dollars. Yes it’s true that the offers you get from cash property buyers are low. Most of the time, properties are sold on by them either at auction or open market and still, offered for a discounted price to get a quick sale.
In addition to that, selling, financing costs and buying can be expensive. In uncertain property market, these cash buyers are going to develop a safety room for them for costs falling between when they sell and buy. Quick sale to cash buyers should be considered where the benefits of having a quick sale has outweighed drawbacks of selling it below the market value.