Rather than realtor fees, closing costs, paperwork and securing approval from lenders, a cash sale is wonderfully straightforward and streamlined.
With a cash home sale, the closing can take as little as a week. Homeowners have access to the money they need very quickly and with minimal hassle. Anyone who wants to unload a property swiftly should consider this modern option. There are numerous differences and benefits when comparing a traditional home sale with a cash transaction. For one thing, there are fewer contingencies. There is no need for a mortgage, eliminating the demands of the bank. When a potential buyer relies on a loan, they are at the mercy of red tape. The bank requires an appraisal. If the value of the home turns out to be lower than estimated, the bank may refuse to provide funding. With a cash sale, there is rarely any problem with an appraisal. The bank will also mandate a home inspection. The inspector checks the safety, condition and reliability of the roof, electric, plumbing, HVAC, foundation and essential components. This can lead to a list of necessary repairs. The cost of a new roof significantly cuts into the assets of a sale. In most cases, cash buyers make offers on homes as-is and don’t require an inspection. The condition of the property certainly impacts the size of the offer but doesn’t undermine the possibility of a sale. Rather than realtor fees, closing costs, paperwork and securing approval from lenders, a cash sale is wonderfully straightforward and streamlined. Closing on a cash offer involves signing only the title, deed and settlement statement. It can be arranged at a convenient date and time. This avoids a great deal of time, stress and frustration.
