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While the reasons you may want to sell your home may vary and can go from outgrowing the property to downsizing it, needing to balance your finances, having your house going into foreclosure, or getting transferred to work in another location, the truth is that although you can go about many ways to sell your home, some can be more beneficial than others.
As a home seller, you have three main selling methods to sell your house as proposed by most real estate agents, but whichever method you decide on, ensuring that you can get a cash offer on your house can make a whole lot of difference in how you can benefit when you sell your home.
Suppose your house has been on the market for some time now, or you have already made the decision to sell your house. In that case, chances are you might be familiar with how accepting a Cash Offer On Your House is an option. Still, while you may have already heard of it, we would like to share with you what the deal behind the cash offer is so you can have a better grasp of it.
The term cash offer on your house does not necessarily imply having the buyer come and offer a suitcase full of bills, but having a buyer with sufficient funds on his bank account to make an offer without having to secure a mortgage loan and go through that process.
Selling your home for a cash offer allows the buyers to bypass any inspection or appraisal needing to be done as per most lenders’ requests, which is something you can use to your advantage. Cash offers on homes guarantee you the payment for your home as buyers do not have to see whether or not they will be approved for a loan, consequently, a faster closing time.
Understanding how a cash offer works and how it is beneficial for buyers, you will now learn the top 7 benefits of accepting a cash offer on your house.
In an effort to minimize the risk, lenders will carry out a home appraisal to ensure the home is worth the money being granted. Lenders will decline the loan if the value for your home is determined to be low after a valuation. Accepting a cash offer will waive this process as the buyer already has the funds available and, thus, does not require to secure a mortgage loan.
Most mortgage loan processes can take anywhere between 1 – 3 months, allowing so much to happen throughout that time. If home buyers’ financial status unexpectedly shifts during that time, the lender can refuse to provide the loan if the change is not favorable for them. When you get a cash offer for your home, you can avoid this and sell your house within days.
It is much less of a risk for home sellers to sell the home by taking a cash offer as they get paid sooner, the process is faster, and the risk of a possible deal falling through is zero.
As opposed to selling a house the classic way, when you take a cash offer, you are no longer required to take on any home improvement project such as repairing certain damaged areas or doing a thorough cleaning, which can take so much of your time.
When a home buyer decides to take out a mortgage loan, your home needs to go through an inspection to determine any possible flaws and the value. A thorough inspection can very well spot any unidentified defects bringing the value down.
The paperwork you have to read and sign when you go through a house selling process can be quite overwhelming when you do it traditionally and very costly when you make a mistake. Yet, you reduce the amount of paperwork to read and sign with a highly reputable home buyer.
Since you are not dealing with a real estate agent, you are really not expected to come up with any commission fees to make the transaction. While you do not pay any commissions when getting a cash offer, it is always good to be on the lookout.
While most selling home processes can be quite lengthy, the reasons why most home sellers have put their homes on the market are associated with life circumstances that can’t wait. Luckily, today home sellers no longer need to wait any inconsiderate amount of time to sell their homes.
Stop searching for companies that buy houses! Travis Buys Homes is a home buying company and we are here to give you the solution you have been looking for. We buy houses in any condition and can perfectly buy yours in no time. Now you can trust a reliable home buying company that has what it takes to help you.