It can be quite hectic to find a company or buyer that can buy your house with cash. However, most people prefer cash for the house as it saves them from many repair costs and other issues.
It is sometimes challenging for an investor to sell an ugly or unwanted property. Having a company or individual who can pay cash for such a property gives the two parties flexibility and freedom of agreeing to whatever terms without including brokers or realtors.
There are benefits associated with selling a house or property for cash to a company. They include:
1. Closing date
A closing date is the final day when the buyer officially becomes the legal owner of a property. You have the flexibility of choosing whichever closing date you want with the company. Since there are no middlemen or other parties interfering, the buyer and the seller can agree on a specific period.
Closing normally takes ten to fourteen days. However, it can also take as long as the two parties (buyer and seller) agree. The buyer can ask for a certain period that works for them and allows them to have everything ready before closing in. There is never a hurry in cash closing, it is flexible and favors everyone’s schedules.
2. Unwanted property
The biggest advantage of working with a home-buying company is that they can buy an unwanted or ugly house without any doubts. These companies overlook the issues in the house that make other buyers not want.
They overlook issues such as broken glass windows, leaking roofs, clogged sewers, and many more. By overlooking all these issues, the company saves the seller a whole deal of money that could have otherwise been spent on repair and renovations.
Business deals that include realtors require you to ensure the house is in an excellent condition before selling to them. Realtors always demand for a full house inspection to ensure everything is spotless. The seller spends a great deal on the repairs. It takes time and is equally costly.
All these can however be avoided by working with home-buying companies.
3. It is convenient
Home-buying companies are way more convenient than retail sales. Typical retail sales have many demands that have to be fulfilled before any deals are made. For example, you must have showings and open houses where you invite prospect buyers to come and inspect the house before buying.
These buyers walk from room to room doing thorough inspections to ensure everything works. If satisfied, they express their desire to buy the house and continue to make a deal. If unsatisfied, they tell their displeasure and ask for repair of certain areas to be made.
If the seller is unwilling to oversee the repair, the buyer negotiates for a cut from the sale off so that they can foot the bills for repair by themselves. Retail sales can be very hectic. As a real estate investor, avoid doing showings by working with cash closing companies or individuals.
4. Simple offers and closings
Retail sales incorporate many steps and is not guaranteed. As discussed above, working with a retail buyer involves showings and inspections. After an inspection, a transaction may not fall through because the buyer was displeased by what they saw.
Other than that, a buyer may demand for deductions or delay transactions until all repairs and renovations are done to their satisfaction. It is quite a challenge.
This is not the case when directly selling a house to a company. The company will simply run numbers they feel are worth the house and give you an offer. Adjustments can be made if you as the seller are dissatisfied by the offer. However, if you accept an offer, then the deal is simply closed.
A cash buyer is a surety as compared to traditional offers that require inspections. Do not hesitate from selling a property because it is ugly or unwanted. Find a company that takes interest in such properties and do business with them.
However, ensure you work with legit and reputable companies. Do not get swindled with fake money and lose your property in the process. It is advisable to always take your time when selling a property because rush decisions may cost you more.