Here is a scenario. You want to sell your house in Houston TX and receive an unbelievable cash purchase offer. While the price that the cash buyer is quoting is a tad low, you are not able to decide whether to snatch up the offer or hold out for a better price from a traditional financed buyer. Well, here’s a take on the benefits of accepting an all cash offer when you want to sell your house in the Houston TX market:
Freedom from Appraisals – A mortgage sale involves appraisals and inspections during which you will be on nervous about whether your home will appraise at your your asking price or not. A low appraisal may mean that your house will not qualify for the loan at your asking price, which could mean that you may have to discount the price to make it work.
Freedom from Banks – There are so many things that can go wrong when it comes to home purchase financing that can prevent even an otherwise sure deal from closing. The buyer should qualify for the loan and even after he has been approved, his job status or financial situation may alter for the worse prior to closing the deal. For all you know, the deal may not even pan out in the end and you are back to where you started from!
Freedom from Delays – A cash deal will definitely close much faster as the buyer does not have to wait for any formalities like loan approval, lender underwriting, title search, appraisal and other intensive paperwork. Getting financing can stretch out for a month or
even two, during which many things can go wrong again. So a cash sale will put the money in your pocket right away! So, given the myriad time saving benefits of selling a home for cash, accepting a price that is a bit lower than the regular market price (or what you expected in a financed offer) does make prudent sense. After all, you yourself will also expect a â€˜liquidity discountâ€™ when you propose to buy a house entirely for cash. But if you are still sensitive to the price, it may be better to wait for a traditional financed offer and accept the risks and delays associated with them.
If you are opting for the easy and quick cash home sale, the next question arises - where will you find such cash flush property investors? Well, apart from some rare private buyers interested in buying a home for cash, there are some professional cash home buyers that are more than willing to come to your assistance when you want to sell a home as is in the Houston TX market. This means that you will be free from the hassels of repair, upgrade or extensive cleaning of your home. This proves especially useful when you need to close quickly or are facing a foreclosure, bankruptcy or other distressing circumstances as you can easily, safely and quickly sell home as is in Houston!
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Published on Jun 11, 2014