Although people have been buying homes for cash for a long time, the practice caught on more significantly after the 2008 recession when people were looking for ways to sell their houses fast and avoid foreclosure. While earlier it was restricted to the sale of distressed properties, homeowners have opened to the idea of cash home sales over time rather than going through a conventional sale. If you’re on the fence about a cash home sale, read on to understand its many benefits:
The Process Is Quick
A cash home sale is ideal if you’re relocating to a new city or town and need to sell your house fast. It’s also ideal for homeowners going through difficult times and need cash immediately. The buyer does not have to go through the lengthy loan approval process, and since there’s no lender, you don’t have to worry about appraisal or inspection. You don’t have to wait for the escrow to close, either. In 2019, lending issues alone contributed to about 41% of delays in a home sale. To avoid delays, a cash home buyer in Wauwatosa can settle immediately on closing. The entire process can take less than a week, from the initial inspection to the closing.
A typical real estate sale starts with choosing the right realtor who will suggest changing your home to improve its value. These changes often include remodeling, hiring a home inspector, spending on home stagers, and more. By selling your home for cash, you can skip these steps. While individual home buyers may insist on a home inspection, realtors specializing in cash home sales buy houses as is. You don’t have to worry about repairs, renovations, or other expenses. And you don’t have to worry about post-sales cleaning. We buy houses in Wauwatosa, WI, and also take care of junk hauling.
Perfect for Distressed Properties
You can avoid foreclosures if you’re unable to pay off your mortgage. Selling your home is the best way to cut your losses. If you have inherited a house you do not want, we can help. Plus, home buyers will also purchase homes that need repairs.