You have probably seen ads that say, “We buy houses in Norfolk” and wondered how the process works. Cash home buyers are investors who buy old and dilapidated homes, fix them up, and sell them again for a profit. They offer win-win solutions for everyone; the seller gets to offload the property quickly while the buyer makes a profit by flipping it.
But these deals aren’t for everyone. If your house is in good condition and you aren’t in a hurry to sell, the conventional market is right for you. However, if the property needs significant repairs, or if you’re trying to deal with a financial situation, it makes sense to contact us. Here are a few reasons why you should choose cash home buyers.
1.Fewer Contingencies and Easy Closing
With cash home deals, you don’t have to worry about financing or sale contingency. Plus, there is no need for inspection contingency. For lender-financed homes, you have to wait for the appraiser’s report. Since cash home deals aren’t lender-mandated, there’s no need for an appraisal.
Similarly, the closing process is more straightforward than a conventional sale. You don’t have to deal with a title and escrow company to manage to close. Instead, the buyer will do it for you. All you need to do is sign the settlement statement and hand over the keys to the buyer.
2. Less Risky
Typically, there’s a risk of mortgage-backed deals falling through. However, since investors pay cash for properties, you can be assured of a quick sale. The only thing you have to ask the investor for proof of funds.
If you need to sell the house but don’t have a place to go yet, a cash home investor could be the way to go. You could speak to the buyer to arrange for a rental arrangement until you can manage an alternate accommodation. Some investors are happy to arrange a sale-leaseback transaction and rent the house back to you after taking over your mortgage.
There are the usual benefits as well. The sale can be completed in seven days. You can get cash for the sale, and cash home buyers purchase houses as-is. Call us to sell your house fast in Norfolk, VA.