Sell Home For Cash: Obvious Reasons & Ways to Do So
What’s the best way to sell home for cash in San Francisco? How do you receive quick financing from legitimate companies?
This article will cover the answer for you.
Who Is a Cash Buyer?
A cash buyer represents a lucrative opportunity for sellers in Bay area. Whether you need to close in 6 months or 10 days, a cash buyer offers a hassle-free selling process. Most cash buyers are foreign customers who cannot get approved for traditional mortgage loans. Others are real estate investors. Investors use their network of private money lenders to finance their dealings.
It’s often assumed that an investor will always pay less for your property.
Statistics show that’s not true!
According to a realtytrac report, investors & cash buyers in SF have paid 4.8% more than other homebuyers. The investors buy the asset value. In most cases, cash offers are 80% of the after-repair-value of your property.
In San Francisco, the situation is different. Investors are paying more cash than the average value that makes cash offers more profitable.
The Pros & Cons: “Sell Home For Cash”
Sell home for cash offers presents their benefits and side-effects. With the right price quote, you just have to worry about the authenticity of an offer. There is no proven way to decide upon a legitimate offer.
Reputation speaks for itself. But, you must depend on customer reviews and networking. Successful investors have already developed a strong network and business portfolio. They provide a competitive price. They’ll provide professional support throughout the selling process.
Some buyers will tend to be “cash buyers” when they’re actually waiting for the loan approval. These buyers will make you wait unless they get the financial help.
Most sellers cannot wait and that’s why they chose a cash buyer. You must understand that all cash offers are not created equal. Look for a few terms in the cash offer including:
- The price
- Who’ll pay closing costs?
- Involved financial contingencies
- Closing period
- Loan generation source
The source of money doesn’t matter as long as you get timely payments in a legitimate way. All you have to do is to protect your asset and your time.
How to Avoid Foreclosure With an “All-Cash Offer”?
The foreclosure becomes inevitable after you have missed 2 mortgage installments. Most homeowners give up at the thought of foreclosure. They seek rescue options in hope to save their home from foreclosures.
Your #1 choice is to pay off your loan or to reinstate your mortgage. You can do so by applying for a one-time FHA loan or a second mortgage with better terms.
If any of these is not possible, you can prevent foreclosure by selling home for cash. This protects your credit history and you can buy a new home when your finances become stable.
AME Home Solutions can buy your home subject to the existing mortgage. We’ll pay the outstanding dues and penalties.
We make monthly mortgage payments that improve your credit score.
We’ll pay all the closing costs and we’re willing to buy your home in any condition. We’re open to discussing other alternatives such as “Rent-to-own” options. Feel free to contact us and we’ll try our best to help you out.