The experience of selling a house can be extremely rewarding or disappointing. The sale of houses is done for different reasons. People can sell their house to get something smaller or bigger, if they are moving to a new place or if they need the money. To enable you transition smoothly, the sale of your house needs to go smoothly. For a smooth transition, you may want to consider selling your house to a cash buyer and the reasons are highlighted below.
The first and main reason why you should consider selling your house to a cash buyer is that you do not have to worry about a chain break down. The longer the chain the more complex the sale, this is because you have lawyers, financiers estate agents and many others involved in the process. When you sell your house for cash, you do not have to worry about the long chain and any miscommunications thereof in the chain during the sale of your house.
If you do not have time to wait through all the formalities of selling a house, then selling your house in cash is preferable. Some emergencies may necessitate the liquidation of your property so that you can use the money for an emergency. You also may be in a rush to leave the country for a different job or some changes and these circumstances make it ideal to sell your house for cash.
Not having time and resources to do elaborate repairs or renovation can make the sale of the house in cash ideal. selling your house in cash in such a circumstance is preferable. This is because they will take care of the necessary renovations and you no longer have to worry about them anymore.
The amount in cash is more than if you would have sold it differently. Things like agent fees and commission are eliminated making you cash more. You make more profits when you sale your house in cash.
There are buyers who may face great difficulty in securing a mortgage. During such circumstances, a cash transaction is preferable. Reasons why buyers may not qualify for a mortgage include low credit worthiness, tough lending policies or younger couples and thus a cash sale deemed worthy.
Not owning the house for long can be another consideration of selling your house for cash. When you sale a house that you have lived in for a while, it is easier to sell compared to one that you have stayed in for a short time. Living in the house for less than six months may not fetch much for it in the market or get a ready buyer and that is why a cash sale is preferable.