If you have lived in your house for a while and are thinking about renting or buying something new then you should look into the benefits of having a cash buyer. Essentially a cash buy is going to pay you outright for your home which allows you to not have to worry about someone making you an offer to find out that they could not even get the loan in the first place.
You can make an offer on the next property quickly
Instead of having to live in limbo between homes worrying if the sale will go through you can put that offer in the next home right away. You must be thinking this sounds great and are wondering how can you sell your house for cash? Well, there are plenty of companies out there that can give you a cash offer but the best are when there are referrals. A cash sale is typically closed in one to three weeks compared to four to seven weeks allowing you to make your offer on the next home if all of your capitol is tied into the home.
Fewer sales tend to fall through
If someone is offering you cash for your house then typically they have done this more than a few times. They know exactly what they are getting themselves into, and take into account the risk and also the rewards of a quick sale. Once the cash is passed from one party to the next the deal is over. Some cash buyers like to put terms on the money that if something goes wrong you will have to give some of the money back. Do not accept any of those terms as that is the whole point of a cash sale.
You Avoid Making the House Showroom Ready
Growing up I remember my parents were in the process of listing our house and every Sunday before the open house we would all have to scrub everything down, and then leave for a few hours. This was a huge hassle as there were five of us all together. When you have a cash buyer you can avoid all of that and you don’t even have to pay a fee to the real estate agent which can cost thousands of dollars.
Overall if you can find the right buyer then you should go for it! Cash buyers have a lot more pros than cons.