The Merits of Selling Your Home for Cash.
It is common for people to take a mortgage when they have to buy a house and this has come to be seen as the norm by sellers but it is not true. It is very possible to get a buyer who pays cash if you know where to look and this has its merits. The fact that you are getting all your money at a go means there will be no a long list of legal documents to be signed which mean processing fees which can be a lot. When you let a realtor sell your house, you will have to pay him or her a commission which can take a big chunk of the money you get from the sale. You will not find an agent who will ask for a commission less that 6% and if you consider what that percentage is in terms of the money you get from the sale, you will realize that it is not a small amount. With cash sale of houses, expenses like closing costs, inspections, appraisals and even holding costs can be wiped off the picture. This is great things for you because it means you get to keep more money in your pockets.
When the client is buying the house the traditional way, the decision will rest with the bank which means it will the bank that gets to decide whether the deal goes through or not and you might be disappointed the last minute. With cash purchase, the buyer comes to bargaining table with the money at hand which means the chances of complications coming up are minimal. When a real estate agent is taking up your home for sale, you will have to make sure the house is presentable and this means making sure the repairs which are necessary are completed and not everyone has the financial capabilities to handle this. With cash buyers, you do not have to fix anything because the repair costs can be deducted from the final amount. If your house needs a repair of the plumbing or HVAC system, you can spend a fortune in the process.
The moment the deal is closed, you will get all your money and this means a high cash inflow. If you had urgent cash needs, this is the best way to put that to rest. You might want to clear medical bills, pay school fees or even pay your debts which can be up your neck. A house is a means for you to get money to handle all the situations you might be facing and get to enjoy your freedom because at the end of the day you will not be owing anyone money.