A cash buyer is any home buyer that has the full amount for the home upfront without the need to apply for a mortgage. Selling to this type of buyer is beneficial in many ways. In fact, it can make your home-selling experience much easier and it is worth considering.
Less Risk Involved
In a traditional home sale, the buyer needs to apply for a mortgage and be approved. This process can take weeks in some cases. As the seller, you have to wait until this process is completed and there’s even a chance that it won’t go through. If your buyer is not approved for a mortgage, then they could drop out of the sale. With a cash buyer, you don’t run this risk. Once you’ve confirmed they have the funds, you know they will stick with the purchase and you don’t need to worry about them backing out.
A Fast Sale
One of the main draws of a cash sale is they are much faster than a traditional sale. Most cash sales allow you to sell in less than 30 days and it may even be as quick as two weeks. Part of the reason cash sales are so fast is that you don’t need to wait for your buyer to get approved for a mortgage. The buyer has the money ready and there are just a few other things to take care of. Additionally, cash sales are not required to have an appraisal done on the home. Appraisals take about 1-2 weeks to complete, so removing one from your to-do list makes the sale faster.
Many cash buyers are often looking for a home they can fix up themselves and then sell for a profit. In these cases, you can sell your home as-is. This means you don’t need to spend money on renovations or spend extra time waiting for renovations to be finished. This takes away a lot of stress associated with selling. Even in cases where you sell to cash buyers not looking to fix up homes, there is less stress. You don’t need to work with a realtor or open your home up to showings. Your life won’t be disrupted as you sell.
There are many great reasons to work with a cash buyer when selling your home. It makes the process easier and you can have an overall better experience. It’s a method of selling worth considering.
Are you selling your home? Click here to find a buyer.