Who Will Buy Your House With Cash?
You may have a house that you need to sell quickly and don't know where to turn. You may be in a situation where you are in dire need of some funds and have a property that you can liquidate to raise those funds, but don't have months to wait on a buyer to close on your property. So where do you turn? Who will buy your house? That's what we are about to cover, so read on.
Typically people that will buy your house with cash are real estate investors. These investors have cash to pay for houses which means they are able to close quickly. They don't have to wait weeks to see if they can qualify or even jump through all of the hoops for applying for a mortgage loan.
Let's get one thing straight right off the bat first. No matter how you choose to sell your house, when you leave the closing table you will walk away with cash, it's just the way it works. If you currently have a mortgage on your property and you sell to a regular buyer, at closing your mortgage is paid off by the new buyer. If you have any equity in the house, then you receive those proceeds.
Advantages In Selling Your Home To A Cash Buyer
So what are some of the advantages of selling your property to a cash buyer who doesn't have to wait on loan approvals? This was covered well by Maximum Exposure Real Estate:
Everything they stated there is true. However there are some cons in choosing a house flipping company, it's not for everybody. For instance, if you are in no hurry to sell your house and have all the time in the world, they are not going to be your best bet. Additionally you may have a new house and may have only lived in it for a year or two. In this case if you have a 30 year mortgage you haven't even started to chip away at the principal balance. Here no matter how you sell it will be difficult to come out without loosing any money, unless you are in an area that is in high demand and home values are quickly rising.
Disadvantages Of Selling To A Cash Buyer
As we started stating above, selling your house to an investor isn't for everyone and there are some disadvantages of selling your property this way. Forbes had this to say about it:
As for their first statement "are they wanting to buy my house and sell it for more?", this is always the case. The investors intend on purchasing your property in the condition it is currently in and then make the repairs to the property and sell it for a higher price to another retail buyer.
As for fraud - that can be kind of difficult in Georgia. Georgia is a judicial state which means when you sell your property it has to go through a closing attorney. Attorneys are not likely to risk their license for one deal.
Lastly - home owners will sell below market value. Again, yes. Investors are taking a great deal of risks when purchasing your property. Any hidden issues can cost them greatly and they also have holding cost to deal with while they perform the repairs to your property.
Summing It Up
Who will buy your house for cash? Real Estate Investors. Keep in mind this option is not for everyone. Generally it is for sellers who are in a bind and need to sell quickly to free up cash. Do your homework and make sure you are dealing with a reputable company.
If you want to sell your house to a cash buyer, be sure and visit our website or call us at (770) 756-8680 and we will be more than happy to make you an offer on your property which you can either accept or deny. We genuinely care about your situation and will make you the best offer that we possibly can.
via Blogger Who Will Buy My House For Cash?