Cash Home Buyer – When You Should Consider Selling Your House?
If you want to sell your house as fast as possible, then contacting a cash home buyer company will always be a viable option. 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.
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. 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. As for the valuation, this is undertaken either by the company in person or hires an appraiser. Usually, this is less than the real estate agent’s asking price.
Here is a common scenario between the cash home buyers and sellers which can give you better understanding. The real estate agent is going to advertise the house for 150,000 dollars while its open market value will be 140,000 dollars. Cash home buyer will be offering you 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.
In addition to that, selling, financing costs and buying can be expensive. Cash buyers create a safety room for them especially for costs that fall 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.