In most cases, when a family is forced to sell their home in a hurry, it is because of some unfortunate circumstances. The circumstances may range to foreclosure, an illness that has cost a lot of money or maybe the loss of the principal breadwinner in the family. Whatever the reason, the family normally has to settle for less than the house would have cost had they sold it through the normal process.
It is a well known fact that selling a house at its market value takes a long time due to the procedures involved and also the that fact that it takes time to find the right buyer for the property. When a family needs to sell the house as fast as they can, the best option is to look for a reliable cash buyer for the house. Fortunately for such a family, we can be of help because we buy houses in NY.
Benefits of selling a house to a cash buyer
It is a fast process – When a family chooses to sell their house for cash, they can count on speedy process that will get them the cash in their account within a fairly short period of time. In most cases, the process can be concluded in a matter of days. As long as the paperwork for the house is in order, the lawyers for the cash buyer will be in a position to carry conduct the necessary steps to get the sale agreement done quickly and signed.
It is convenient for the buyer – Under normal circumstances, when a seller makes the decision to sell their house; they have to undertake extensive repairs in the hope of getting a good price for the house. It thus means that they may even have to borrow just to get their house looking at its best. When a family is selling their house to a cash buyer, they do not have to go through such an expensive process. The cash buyer usually buys the house as is. A seller therefore will find the process convenient because it takes the repair load off their back. Apart from the repairs, when one is selling a house they need to get an appraisal done to find out the value of the property. An appraisal process also has a cost and it may not even be correct because the value can be altered by other external factors such as the value of the neighboring property. Cash buyers do not need an appraisal done because they already have their own ways of doing it.
No need to involve banks – In many property deals, there is always a bank process involved. The buyer of the property has to apply for a loan and wait for it to get processed before they can conclude the sale. On the other hand, the bank will always send its valuation team to confirm that the value of the property being purchased is indeed as stated in the loan documents. This process takes time and can sometimes stall due to a minor hitch. A seller dealing with a cash buyer does not have to wait for the seller to obtain the loan because they already have the money to purchase the house. Such a process takes only a few days to conclude.