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. This is applicable no matter what your situation is. 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.
Well basically, there are numerous benefits of opting to sell the house to such company like they can offer you a speedy transaction of buying the house, probably within a week; not subjected to issues that generally affect the sale and also, willing to buy the house in as-is condition.
Cash buyers offer clients to buy their 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. 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. 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.
In the next line, you are about to see a very common scenario happening between sellers and the cash for home buyers. 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. Yes it’s true that the offers you get from cash property buyers are 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. 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.