Are you a distressed home seller in need of quick cash? Selling your home for cash to a real estate investor might be an ideal option. Working with a real estate agent when selling a home might take longer as you need to prepare your home for public showings and might need to do repairs to get your desired price and cover the real estate agent commissions. However, when you deal with a real estate investor, they have their own money and you sell your home AS-IS for cash. They don’t need any loan approval from lenders and what they offer you is what you get thus, saving time and money.
Common reasons that can make you sell your home for cash to a real estate investor include;
- When you are facing foreclosure
- When you have an inherited property and you don’t plan to live in that home
- When your home is in deplorable state and it may require huge investments to renovate it so as to attract traditional buyers but the investor is willing to buy it as is
- When you are undergoing financial challenges maybe as a result of loss of a job or long-term illness
- When you want to urgently relocate to another state due to job transfer or a new opportunity
- When you are dealing with divorce settlements and you want to close fast so as to split the proceeds
- When you want to sell a house that has tenants who are already living in the house
Pros of Selling Your House for Cash
1. It’s Time Saving
When you sell your house for cash, most of the real estate investment companies will give you an instant offer after inspecting your property and close the deal within 7 days. This option puts money in your account within days something which is not possible with traditional buyers when you engage realtors or FSBO option.
2. It Makes It Easier For Homeowners to Sell Tenant Occupied Homes
The traditional home selling process requires that you organize and prepare your home for showing. When you have an existing tenancy agreement with your tenants, it becomes complicated to schedule for home inspections and viewing since you will infringe on tenants privacy. When you talk to a real estate investor, they are always ready to buy such rental properties at any time thus, taking the burden off your shoulders.
3. Investors Buy Your Home As Is
When you sell your home through the traditional way, there is a lot of preparation works that is involved. You will need to prepare your property by cleaning it and decluttering before taking professional listing and staging photos. You will also have to make repairs, improve curb appeal and apply painting where possible if you want to get a competitive offer.
With a cash buyer who deals with a fixer-upper projects, you will not be required to anything on your house. They will buy it as is at a fair offer.
4. You Enjoy Shorter Escrow Period
When you sell your house for cash to a real estate investor, you will have a less waiting period (mostly less than 30 days) before you close the deal and get all the cash into your bank account. If you opt for the other home selling options, you could be forced to wait for more than 45 days for the escrow agent to release your cash something which might not work on your favor. A quicker escrow period guarantees efficiency and works better for home sellers who are in need for quick cash.