Cash sales for homes are more common than you might think.
According to research by ATTOM Data Solutions 22 and 24 per cent of single-family and condo sales across the United States in the last two years have been cash sales.
At Utopia R.E.I. Group, you can sell your Allentown or Pennsylvania home to a cash seller at the best prices. Here are some of the reasons for their increasing popularity amongst home sellers.
- Faster and quicker: Selling a home to a cash buyer is a quicker and faster process in comparison to taking the traditional route of listing it with an agent.
The latter process has a lot more formalities which may take ages to wind up.
- No dependency on appraisals: Buyers might need to get your home inspected for getting appraisals from their lender or to get their mortgages approved.
This delays the process and it can also cancel the deal entirely in case the appraisals don’t go through.
A cash buyer does not need to get appraisals done which means with them you don’t have to worry about them too. Cutting appraisals out of the picture speeds up the process.
- Save money on Repair: Since no appraisals have to be done, no beautification, painting or repair is required to upgrade your house and prepare it for sale.
A cash buyer accepts your home as it is which translates into saving money and efforts on repair.
- No preparations for sale: A lot more than repair is required to be done to put a house up on listing with an agent.
You need to clean, prep, stage, and market the house and even then a sale is not guaranteed. This is why listing with an agent can be both costly and time-consuming.
Fortunately, with a cash seller, you can do away with all of the above.
- Less stress: Since you don’t have to worry about repairing and upgrading the house, staging it for inspection and letting strangers review it for appraisal time and again the process becomes a lot more stress-free with cash buyers.
With a cash buyer, you also eliminate the possibility of stress in future as you wouldn’t have to worry about the financial standing of your buyer and the risk of their losing their financing in future.
- Easy sale of distressed properties: Old properties, damaged or flawed homes or even those homes that have past tax dues and are very hard to sell via listing with an agent.
In such cases selling to a cash seller is a way out for those who have been facing trouble in selling their homes at a decent price.
- Solve difficult problems: If selling the home isn’t your only goal and you need liquid money to solve problems in your life then a cash buyer would suit you best.
For instance, you need to split the equity after divorce, pay a debt, medical bills or move to another place then listing via an agent won’t solve your problems.
Selling your home to a cash buyer may have some cons but the pros far overweigh the cons which explain their popularity.
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