After you decide to sell your home, there are a number of considerations that go into actually selling it. One of these is how to evaluate the difference between prospective buyers who make cash offers for your property versus those who will require a loan. It is true that the question of whether to offer cash for a home or secure a mortgage is determined by the buyer’s financial situation. That said, you, as the seller, are affected by this decision as well, and it should be a very real consideration when looking at offers from sellers.
Less Risk of the Deal Falling Through
The biggest benefit of getting a cash offer from a buyer is that you have a much better idea of knowing the deal will go through in the end. When a potential buyer needs to secure a mortgage, this is contingent on an appraisal of the property and an analysis of the buyer’s credit by the lending institution. If either of these doesn’t pass muster, their financing falls through and so does your home sale.
Closing goes much faster with cash offers. Things such as lining up financing, arranging for appraisals and other actions only needed with a financed home purchase take time. If you are a motivated seller, this is
Closing goes much faster with cash offers. Things such as lining up financing, arranging for appraisals and other actions only needed with a financed home purchase take time. If you are a motivated seller, this is a time you will not want to spend trying to unload your home. You may need to relocate to another city fairly quickly and need to have this transaction done fast.
This is where the above benefits of the transaction having way less chance of falling through can also come in handy. Not only will the transaction be faster, but you can be more confident of it happening in a single transaction. Faster closings with lower fees for the buyer as well is also why professional property investing companies typically deal in all-cash offers.
A Great Source for Cash Offers on Your Philadelphia Home
Property investors almost always pay cash for a home because they need to purchase and turn over properties fairly quickly as part of their business model. If you are looking for a real estate investment company in Philadelphia in order to sell your house fast, you may want to know about excellent property investors in your area.
At Walnut Hill, we pay cash for your Philadelphia home. We are experienced professionals at property investing. We will take your home in whatever condition it is in, so you don’t have to take the time to sell it on the open market to a cash or mortgaged buyer who may require you to fix it up before they will make an offer. We offer you all the benefits of a cash transaction in that you get your money quickly in a hassle-free manner.