Selling your home can prove to be a complicated and a stressful experience. You may have to look for a reliable and trustworthy agent, have your home correctly appraised so as to know its real value, make sure your home is good looking, advertise the sale of the house, and wait for the offer for it to be done hoping that the prospective buyer will get a mortgage for the transaction to go through. This endeavours not only do they take much effort but also take a lot of time to finalise; as a matter of fact, the process can take months or perhaps years.
Probably you may be in need of cash immediately or really need to delink yourself from your home immediately due to factors such as nearing foreclosure, divorce, avoiding the need for a realtor, making the process easy and simple for yourself or other financial difficulties which may increase you anxiety exponentially. In such cases, you will need to look for alternatives methods to sell your home in the shortest time possible. One of the most reliable methods that will provide a solution in a very short timeframe is looking into direct sales to cash for houses buyers.
So, what are the advantages of selling your house quickly to a cash buyer?
- Fast and guaranteed house sale
When selling your house to a cash buyer, you cut down lots of process including approving financing, home inspection, appraised values and many others. Cutting all this process expedites the transaction process considerably. Therefore, instead of having to wait for someone to make an offer and crossing your fingers so that the deal may go through as planned, a cash sale is the best option to avoid all this hassles. The good thing with a cash sale is that, after the cash offer for your home has been accepted, you can get your cash in the shortest time possible. When in difficult financial circumstances or you need to delink yourself with your house as quickly as possible in order to relocate, then the speed of sale is essential and can only be guaranteed by a cash sale. When you sell your house to cash buyers, you’ll get the needed money in the quickest time possible to avoid getting into financial crisis and inconveniences.
- Helps one Avoid disappointments and complications
Selling your home can come with different difficulties and frustrations. For instance, a buyer can make a very attractive offer and after a while ends up declining to enter into an agreement. Others even decline at the very last moment. This means that you will have to start all over again taking offers, leading to time and effort wastage thereby prolonging the sale process. This can be avoided by just selling your house to cash buyers. Once the buyer makes the effort of paying the cash, they cannot back out or decline to honour the agreement as they have already paid the needed cash to you. Avoid these complications by choosing to sell your home in cash.
- It is the most convenient way
A cash sale is the most convenient method to sell your home, both for the buyer and the seller. Cash sale means that you don’t have to worry about repairing your home as most buyers want it the way it is.it also saves you time and money required to advertise it in the showrooms. By opting for this method of selling your home, you save money and time spent in keeping the house in the standards required by the showroom to sell it; decorations and repairs. You may get lesser money as compared to the current market cost, but it will have saved you time, the cost of repairs and decorations which will be passed over to the buyer. In fact, if you balance your figures well, you’ll probably get that the cost of decorating, advertising, and repairing, cancels out the money foregone by opting to sell it at price slightly below the market cost.
- It reduces the number of negotiations
After the buyer assesses the home and makes their offer, you either accept or decline. There is very little negotiation with this process. Often, serious buyers will not come quoting an offer that may sound ridiculous, Most even don’t have time to haggle because the value of the home is well known to both of you. If you intend to sell your home quickly and efficiently, selling via cash sale is an excellent option.
- It helps eliminate the uncertainty of buyer’s financial strength
Cash payment helps the seller to eliminate most of the uncertainty surrounding the financial strength of the buyer. This is because a cash offer deletes the instances of the mortgage contingencies. Once the buyer enters into this deal, it becomes hard to cancel the transaction or back out from it.
With that in mind, you can now opt to sell your home through cash sale rather than through realtors or other complicated methods, but what are some of the things you should do before entering into this kind of transaction.
Hire a qualified surveyor to value you home- never trust the buyer to give you the real value of your home. Having information about the current value of your home will give you a clear picture of the offer to expect from the buyer.
Be accompanied by a lawyer when finalising the deal- a cash sale follows a similar procedure to that of the mortgage agreement. Have a lawyer to act as your witness and to ensure that all the legal documents are in place.
Ensure that the money is in your bank account before signing the transaction document- in most cases; the payment is done by a cheque. Ensure all the legalities are followed and the cheque has matured before penning down your signature on that sale document. In the case where a buyer who had accepted the transaction and deposited a cheque changing their mind and asking for a refund, never refund the cash until the cheque clears with the bank.
Suspicious payment- if you suspect any fraud on cash payment for a home, report the matter to the authority. The money could have originated from illegal activities such as drug trafficking or money laundering. If this is found to be true, you will be termed as a collaborator and you could even lose your home.
A cash sale is the most convenient and fastest way to sell your home. When you opt to sell your home for cash, you will have avoided the long process of selling a home in traditional way and this will save you time and stress that accompanies all the hassles you may have to go through and lots of paperwork.